Village Capital Corporation Acquires Lakeland Development Site For $8.6M
3301 Airport Rd Lakeland, FL 33811, USA
$8,600,000
$6/SF
Building Size
1,276,308 SF
Asset Type
Development Site
Closing
Jul 14, 2023
AI
A development site located at 3301 Airport Road in Lakeland has been sold for a total price of $8,600,000. The property spans an area of 1,276,308 square feet, with a price per square foot of $7.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,600,000
- Address: 3301 Airport Road, Lakeland
- Market: Lakeland
The buyer of this development site is Village Capital Corporation, while the seller is Lindell Investments. The transaction was facilitated by brokers Jad Richa, Brian Hunsicker (Brian.Hunsicker), Tom Huffsmith, and Nasser Al-Hafi from Capstone Companies.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.84%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93