Daily limit: 0/10
Marcus & Millichap Capital Corporation Arranges $5.27M Loan For Mixed-Use Property In Atlantic Beach
FINANCED
$5,270,000
Florida
See Similar DealsDevelopment Site
Financed 09/08/2023
FINANCED
Marcus & Millichap Capital Corporation Arranges $5.27M Loan For Mixed-Use Property In Atlantic Beach
42 East Coast Dr Atlantic Beach, FL 32233, USA
See Similar DealsDevelopment Site
Financed 09/08/2023
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
A mixed-use retail and office property located at 42 East Coast Drive in Atlantic Beach, Florida has secured $5,270,000 in financing through a construction loan. The loan was arranged by Marcus & Millichap Capital Corporation (MMCC) and will contribute to enhancing the work, play, and dining experience in Atlantic Beach. The property is expected to be completed in Fall 2024.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,270,000
- Loan Type: Construction Loan
- Loan Terms: 10-year loan with 6.5% interest only for three years and 25-year amortization
Garrett Fierstein and Simon V. Grigoryan from Marcus & Millichap Capital Corporation (MMCC) played crucial roles as brokers in securing the loan for the mixed-use property at 42 East Coast Drive in Atlantic Beach, Florida. Their efforts contribute to the development of the area, enhancing the local economy and community.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Lenders
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,270,000.00
Monthly NOI$35,133.33
Monthly Debt Service$33,309.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions