Morgan Automotive Group Acquires 41.25 Acres Of Land In Clermont For $19.4M
17550 State Road 50th, Clermont, Florida 34711, United States
$19,380,000
$408/SF
Building Size
47,463 SF
Asset Type
—
Closing
May 23, 2022
About this deal
AI
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.
Players
Clermont CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.82%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93