Freedman’s Development Sells Tampa Storage Facility For $18.5M
3935 West Cypress Street, Tampa, Florida 33607, United States
$18,500,000
$222/SF
Building Size
83,000 SF
Asset Type
—
Closing
Aug 14, 2022
About this deal
AI
3935 W. Cypress St in Tampa has been sold in a recent transaction. The property in question is a storage facility, spanning across 83,000 square feet. The sale, which was completed on 08/15/2022, was facilitated by Steve Freedman from Freedman's Development. The storage facility consists of 600 units, resulting in a price per unit of $30,833. The overall sale price of the property was $18,500,000, with a price per square foot of $223.
Summary of transaction details:
- Property Type: Storage Facility
- Transaction Amount: $18,500,000
- Units: 600
- Price per Unit: $30,833
- Square Footage: 83,000
- Price per Square Foot: $223
- Seller: Freedman's Development - Steve Freedman
Steve Freedman, a representative of Freedman's Development, played a key role in this transaction. The sale of the storage facility marks a significant deal in Tampa's real estate market.
Players
Tampa 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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93