ServisFirst Bank Provides $21.8M Loan For Office Property In New Port Richey
9332 State Road 54, New Port Richey, FL, USA
$21,800,000
$251/SF
Building Size
86,770 SF
Asset Type
Office
Closing
Jan 21, 2021
About this deal
AI
The office property located at 9332 State Road 54 in New Port Richey has been involved in a recent transaction. Spanning over 86,770 square feet on a 55-acre plot, this property captures attention with its impressive size and potential.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $21,800,000
- Date: 01/22/2021
- Market: New Port Richey
- Lender: ServisFirst Bank
- Landlord: Onicx Development - Dhvanit Patel
- Broker: Bryan Brown - Berkadia
The loan involved in this transaction was provided by ServisFirst Bank, amounting to $21,800,000. The loan terms include a fixed rate and a five-year duration, ensuring stability and predictability for the parties involved.
Players
New Port Richey Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93