Morgan Automotive Group Acquires 41.25 Acres Of Land In Clermont For $19.4M
SOLD
$19,380,000
Florida
See Similar Deals47,463 SF
Sold 05/24/2022
SOLD
Morgan Automotive Group Acquires 41.25 Acres Of Land In Clermont For $19.4M
17550 State Road 50th, Clermont, Florida 34711, United States
See Similar Deals47,463 SF
Sold 05/24/2022
Summary
FLORIDA
Price Per Square Foot:$408
Total Square Footage:47,463 SF
Transaction Type:Sale
The recently closed property transaction involves the sale of a land asset in Clermont, located at 17550 State Road 50. This land spans an impressive 41.25 acres and was sold for a remarkable price of $19,380,000. The square footage of the property measures 47,463, resulting in a price per square foot of $408.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $19,380,000
- Market: Clermont
- Address: 17550 State Road 50
- Acres: 41.25
The buyer in this transaction is the Morgan Automotive Group, while the seller is the Fuccillio Automotive Group. Representing the buyer and providing advisory services is Erin Kerrigan from Kerrigan Advisors.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,033,600.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$68,853.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,871.09
Annual Debt Service$1,102,453.05
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