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Village Capital Corporation Acquires Lakeland Development Site For $8.6M

Property Image
SOLD
$8,600,000
Tom Huffsmith
Jad Richa
Brian Hunsicker
+ 1

Florida

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Development Site1,276,308 SF
Sold 07/14/2023
the dealplayerscompscontact
Property Image
SOLD

Village Capital Corporation Acquires Lakeland Development Site For $8.6M

3301 Airport Rd Lakeland, FL 33811, USA

See Similar Deals
Development Site1,276,308 SF
Sold 07/14/2023
Tom Huffsmith
Jad Richa
Brian Hunsicker
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$6
Total Square Footage:1,276,308 SF
Transaction Type:Sale

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

Jad Richa
Capstone Companies
Jad Richa
6 deals$88M volume
BROKER
Brian Hunsicker
Capstone Companies
Brian Hunsicker
4 deals$43.6M volume(727) 631-5870
BROKER
Tom Huffsmith
Capstone Companies
Tom Huffsmith
3 deals$44M volume
BROKER
Nasser Al-Hafi
Capstone Companies
Nasser Al-Hafi
2 deals$14.8M volume
BROKER

Details

SOLD
IMAGE: Tom Huffsmith, Nasser Al-Hafi, Jad Richa & Brian Hunsicker DATE: 07/14/2023 ADDRESS: 3301 Airport Road MARKET: Lakeland ASSET TYPE: Development Site BUYER: Village Capital Corporation SELLER: Lindell Investments BROKERS: Jad Richa (@Richa_jad), Brian Hunsicker (Brian.Hunsicker), Tom Huffsmith (@Mr_huffers) & Nasser Al-Hafi (@Alhafinas) - Capstone Companies (@Capstone_CRE) SALE PRICE: $8,600,000 SF: 1,276,308 ~ PPSF: $7

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$30,553.98
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