Updated Oct 29, 2024
Graham & Co Acquires 21-acre Development Site In Tampa For $6.19M
9208 Palm River Road
$6,190,000
$23/SF
Building Size
262,440 SF
Asset Type
Development Site
Closing
Feb 1, 2023
About this deal
AI
The development site at 9208 Palm River Road in Tampa has been sold for $6,190,000. Spanning across 21 acres, this property offers tremendous potential for development. The buyer, represented by Steve Graham of Graham & Co, recognized the value of this site and decided to make the investment. The seller was Palm River JLM Center Ltd. Truist Bank provided the necessary financing for this transaction.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,190,000
- Address: 9208 Palm River Road, Tampa
- Market: Tampa
- Asset Type: Development Site
- Acres: 21
Steve Graham from Graham & Co was instrumental in representing the buyer in this deal. The buyer recognized the potential of this development site, with an impressive buildable square footage (BSF) of 262,440. The price per buildable square foot (PPBSF) was $24, showcasing the value that the buyer saw in this transaction. The seller, Palm River JLM Center Ltd, decided to sell this property, leading to the successful closing of the deal.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93