Updated Nov 28, 2024
Silverstein Properties Acquires Development Site In Tampa For $19.75M
505 East Tyler Street, Tampa, Florida 33602, United States
$19,750,000
Building Size
—
Asset Type
Development Site
Closing
May 12, 2022
About this deal
AI
Located at 505 East Tyler St in Tampa, this development site spans approximately 1 acre. Recently, it was sold for a total of $19,750,000. The sale took place on May 13, 2022, and the buyer was Silverstein Properties. Marty Burger, representing Silverstein Properties, facilitated the transaction.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $19,750,000
- Market: Tampa
- Address: 505 East Tyler St
- Buyer: Silverstein Properties
This deal showcases the active real estate market in Tampa as Silverstein Properties acquired this development site for future projects. Marty Burger, representing Silverstein Properties, played a key role in negotiating and finalizing the sale. The transaction demonstrates the continuous investment and development happening in Tampa's market.
On the Map
$19,750,000
Development Site
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Tampa Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93