Publix Super Markets Acquires Development Site In Westlake For $9.1M
SOLD
$9,100,000
Florida
See Similar DealsDevelopment Site140,000 SF
Sold 07/27/2020
SOLD
Publix Super Markets Acquires Development Site In Westlake For $9.1M
5075 Seminole Pratt Whitney Road, Westlake, FL, USA
See Similar DealsDevelopment Site140,000 SF
Sold 07/27/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$65
Total Square Footage:140,000 SF
Transaction Type:Sale
Publix Super Markets has acquired a development site in Westlake, Florida. The property, located at 5075 Seminole Pratt Whitney Road, was purchased from Minto Communities for a total sale price of $9,100,000. The site spans 20 acres, resulting in a price per acre (PPA) of $455,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $9,100,000
- Address: 5075 Seminole Pratt Whitney Road, Westlake, Florida
- Buyer: Publix Super Markets
- Seller: Minto Communities
- Market: Westlake
- Acres: 20
- Price per Acre (PPA): $455,000
The transaction took place on July 27, 2021, and Todd Jones represented Publix Super Markets in the deal as their broker's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$485,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,330.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,138.64
Annual Debt Service$517,663.71
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