Mosaic Realty Partners Acquires Mixed-Use Property In Tampa For $38.1M
SOLD
$38,100,000
+ 2
Florida
See Similar DealsMixed-use115,899 SF
Sold 06/30/2022
SOLD
Mosaic Realty Partners Acquires Mixed-Use Property In Tampa For $38.1M
1208 East Kennedy Boulevard, Tampa, Florida 33602, United States
See Similar DealsMixed-use115,899 SF
Sold 06/30/2022
+ 2
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$328
Total Square Footage:115,899 SF
Transaction Type:Sale
The mixed-use property located at 1208 E Kennedy Blvd in Tampa has been sold for a total of $38,100,000. The transaction took place on June 30, 2022. The property spans a total area of 115,899 square feet, making the price per square foot $329. The buyer of the property is Mosaic Realty Partners, while the seller is Mercury Advisors. Both parties were represented by brokers Mike Milano, Nicholas Coccodrilli, and Brandon Rapone from Colliers.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $38,100,000
- Date: 06/30/2022
- Address: 1208 E Kennedy Blvd, Tampa
- Market: Tampa
Donald Jennewein and Nathan Lynch from Colliers served as the mortgage brokers in this deal. They assisted in securing the necessary financing for the transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,032,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$135,361.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$180,613.44
Annual Debt Service$2,167,361.25
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