Terra Equity Group Acquires Mixed-use Property In Winter Springs For $11M
SOLD
$11,000,000
+ 1
Florida
See Similar DealsMixed-use48,780 SF
Sold 03/08/2022
SOLD
Terra Equity Group Acquires Mixed-use Property In Winter Springs For $11M
1401 Blumberg Blvd, Winter Springs, Florida 32708, United States
See Similar DealsMixed-use48,780 SF
Sold 03/08/2022
+ 1
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$225
Total Square Footage:48,780 SF
Transaction Type:Sale
A mixed-use property located at 1401 Blumberg Blvd in Winter Springs has been sold for a total price of $11,000,000. The property sits on 1.57 acres and consists of 45 units, with an average price per unit of $244,444. The total square footage of the property is 48,780, resulting in a price per square foot of $226.
Summary of Transaction Details:
- Property Type: Mixed-use
- Transaction Amount: $11,000,000
- Address: 1401 Blumberg Blvd, Winter Springs
- Market: Winter Springs
- ACRES: 1.57
- Buyer: Terra Equity Group
- Seller: Cohen Investment Group
- Brokers: Darron Kattan, Zach Ames, Avery Jordan & Mark Savarese - Franklin Street
- Units: 45
- PPU: $244,444
- SF: 48,780
- PPSF: $226
The deal was facilitated by brokers Darron Kattan, Zach Ames, Avery Jordan, and Mark Savarese from Franklin Street.
Players
BUYER
SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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