Cornerstone Properties & KKR Acquire Medical Office In Largo & Spring Hill For $7.5M
SOLD
$7,500,000
Florida
See Similar DealsOffice
Sold 01/03/2022
SOLD
Cornerstone Properties & KKR Acquire Medical Office In Largo & Spring Hill For $7.5M
115 Highland Avenue, Largo, Florida 33770, United States
See Similar DealsOffice
Sold 01/03/2022
Summary
FLORIDA
Asset Type:Office
Transaction Type:Sale
115 Highland Ave & 1130 Commercial Way, located in Largo & Spring Hill, was recently sold in a closed transaction. The property, which falls under the category of Medical Office, was purchased by Cornerstone Properties & KKR. The sale was facilitated by broker Pedrum Lavassani from Matthews Real Estate Investment Services. The transaction took place on 01/03/2022.
Summary of Transaction Details
- Property Type: Medical Office
- Transaction Amount: $7,500,000
- Address: 115 Highland Ave & 1130 Commercial Way, Largo & Spring Hill
- Market: Largo & Spring Hill
The sale of 115 Highland Ave & 1130 Commercial Way was closed at a sale price of $7,500,000, with a capitalization rate of 5.85%. This transaction represents a significant deal in the Medical Office asset category. Pedrum Lavassani from Matthews Real Estate Investment Services served as the broker in this transaction, representing the buyer, Cornerstone Properties & KKR. The sale showcases the strong demand for medical office properties in the Largo & Spring Hill market.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
Is there something missing? Send suggestions