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Coldwell Banker Acquires Multifamily Property In Sarasota For $5.5M

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SOLD
$5,475,000

Florida

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MultiFamily8,670 SF
Sold 01/26/2024
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SOLD

Coldwell Banker Acquires Multifamily Property In Sarasota For $5.5M

1125 Point of Rocks Road

See Similar Deals
MultiFamily8,670 SF
Sold 01/26/2024
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$631
Total Square Footage:8,670 SF
Transaction Type:Sale

A multifamily property located at 1125 Point of Rocks Road in Sarasota has been sold for a total price of $5,475,000. This transaction was facilitated by Coldwell Banker, who represented the buyer, and Starz Real Estate, who acted as the seller's representative. The property spans a total area of 8,670 square feet, resulting in a price per square foot of $631.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,475,000
  • Address: 1125 Point of Rocks Road, Sarasota
  • Market: Sarasota
  • Buyer's Representative: Elliot Rose & Ginger Wilson - Coldwell Banker
  • Seller's Representative: Robert Louloudes - Starz Real Estate

This successful sale showcases the collaborative efforts of Elliot Rose & Ginger Wilson from Coldwell Banker, who worked diligently to represent the buyer, and Robert Louloudes from Starz Real Estate, who skillfully represented the seller. Together, they ensured a smooth transaction and achieved a favorable outcome for both parties involved.

Players

1 deal$5.5M volume(941) 336-7868
BROKER


Elliot Rose
Coldwell Banker
1 deal$5.5M volume(941) 812-5057
BROKER

Details

SOLD
IMAGE: Elliot Rose & Ginger Wilson DATE: 01/26/2024 ADDRESS: 1125 Point of Rocks Road MARKET: Sarasota ASSET TYPE: Multifamily BUYER'S REP: Elliot Rose & Ginger Wilson - Coldwell Banker (@ColdwellBanker) SELLER'S REP: Robert Louloudes (@RobertLouloudes) - Starz Real estate SALE PRICE: $5,475,000 SF: 8,670 ~ PPSF: $631 NOTE: A multifamily property at 1125 Point of Rocks Road in Sarasota sold for $5,475,000, with Coldwell Banker representing the buyer and Starz Real Estate representing the seller.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$292,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,451.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,954.29
Annual Debt Service$311,451.52