Limestone Asset Management And Orion Real Estate Group Acquire Mixed-Use Property In Pinecrest For $32M
SOLD
$32,000,000
Florida
See Similar DealsMixed-use94,175 SF
Sold 03/23/2021
SOLD
Limestone Asset Management And Orion Real Estate Group Acquire Mixed-Use Property In Pinecrest For $32M
12651 South Dixie Highway, Pinecrest, FL, USA
See Similar DealsMixed-use94,175 SF
Sold 03/23/2021
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$339
Total Square Footage:94,175 SF
Transaction Type:Sale
The mixed-use property located at 12651 South Dixie Highway in Pinecrest has been sold for $32,000,000. The asset, consisting of both retail and office space, spans 94,175 square feet. The sale was completed on March 23, 2021. The price per square foot was calculated as $340.
Summary of transaction details
- Property Type: Mixed-use (Retail & Office)
- Transaction Amount: $32,000,000
- Address: 12651 South Dixie Highway, Pinecrest
- Market: Pinecrest
- Square Footage: 94,175
- Price per Square Foot: $340
The buyer of the property was Limestone Asset Management and Orion Real Estate Group, represented by Kevin J. Sanz. The transaction was facilitated by the broker JLL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$113,689.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$151,696.33
Annual Debt Service$1,820,355.91
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