Prospect Real Estate Group Acquires Development Site In Kissimmee For $10.4M
SOLD
$10,400,000
Florida
See Similar DealsDevelopment Site453,024 SF
Sold 01/06/2023
SOLD
Prospect Real Estate Group Acquires Development Site In Kissimmee For $10.4M
806 W Oak Street,Florida 34741,United States
See Similar DealsDevelopment Site453,024 SF
Sold 01/06/2023
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$23
Total Square Footage:453,024 SF
Transaction Type:Sale
The development site located at 806 W Oak St in Kissimmee has been sold for a transaction amount of $10,400,000. The property spans a total of 453,024 square feet, resulting in a price per square foot of $23.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $10,400,000
- Address: 806 W Oak St
- Market: Kissimmee
- Square Footage: 453,024 SF
- Price per Square Foot: $23
Prospect Real Estate Group, represented by Navish Chawla, Richard G. Zahn Sr., Michele Zahn, and Willie Frias, acquired the property from Saxon Partners. The buyer's representative in this transaction was Moushumi "Chinni" Ganguli of CityLights RE, Inc, while David Calcanis of Colliers International represented the seller.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$554,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,949.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,301.31
Annual Debt Service$591,615.67
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