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12901 Village BLVD, N/A, FL...

Ben Mallah Purchases Commercial Property In Madeira Beach For $17.2M
SOLDCommercial

Ben Mallah Purchases Commercial Property In Madeira Beach For $17.2M

12901 Village BLVD, N/A, FL, 33708

$17,200,000

$421/SF

Building Size

40,771 SF

Asset Type

Commercial

Closing

Aug 22, 2019

AI

The Shops at John’s Pass Village is a 40,771-square-foot commercial property located at 12901 Village BLVD in Madeira Beach, FL. The asset was recently sold for $17,200,000.00 in a transaction facilitated by Mark Shellabarger of CBRE on August 22, 2019.

Summary of transation details:

  • Property Type: Commercial
  • Transaction Amount: $17,200,000.00
  • Market: Madeira Beach
  • Seller's Representative: Mark Shellabarger (CBRE)
  • Buyer: Ben Mallah
  • Address: 12901 Village BLVD, N/A, FL, 33708
  • Square Footage: 40,771

Following an online auction that attracted 29 bids, Ben Mallah emerged as the buyer of The Shops at John’s Pass Village. The property includes retail shops, restaurants, a marina, and a 325-space parking garage, offering a diverse range of amenities to visitors. Situated approximately 25 miles west of downtown Tampa, the waterfront shopping village is poised to continue attracting patrons under its new ownership.

Players

Mark Shellabarger

CBRE

Broker

$73.4M

vol

9 deals

Broker
Ben Mallah

Ben Mallah

Equity Management Partners

Buyer

$374.7M

vol

16 deals

Buyer

Madeira Beach Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.92%

Cash-on-Cash

-0.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93