Orange Pineapple LLC Acquires 3.1-Acre Land In Downtown Sarasota For $32M
Sarasota
$32,000,000
Building Size
—
Asset Type
Land
Closing
Jun 1, 2023
AI
Virginia-based development company Orange Pineapple LLC has acquired seven parcels in downtown Sarasota for a total of $32 million. The 3.1-acre property offers potential for residential and commercial development. The specific plans for the property have not yet been revealed.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $32,000,000
- Market: Sarasota
- Asset Type: Land
- ACRES: 3.1
Horn & Jag Grewal from Ian Black Real Estate represented both the buyer, Orange Pineapple LLC, and the seller, Capstone Group Holdings LLC and Ringling and Orange 3 LLC, in this transaction.
Players
Miami Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93