facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Florida

/

Office

/

Sale

/

1390 Main Street, Sarasota,...

WMG Development Acquires 1.08 Acre Office Property In Sarasota For $24M, Represented By Curtis Frost
SOLDOffice

WMG Development Acquires 1.08 Acre Office Property In Sarasota For $24M, Represented By Curtis Frost

1390 Main Street, Sarasota, Florida 34236, United States

$24,000,000

Building Size

Asset Type

Office

Closing

Jan 9, 2023

AI

1390 Main Street in Sarasota was recently sold in a transaction overseen by Ian Black Real Estate. The property, which spans 1.08 acres, was purchased by WMG Development for a total sale price of $24,000,000.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $24,000,000
  • Date: 01/10/2023
  • Address: 1390 Main Street, Sarasota
  • Market: Sarasota

The deal was facilitated by Curtis Frost of WMG Development, and the buyer was represented by Steve Horn, Jag Grewal, and Jeremy Dee. They worked alongside Ian Black Real Estate to finalize the transaction.

Players

Jeremy Gee

Broker

$39.8M

vol

3 deals

Broker

Sarasota Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.66%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93