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
About this deal
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.
On the Map
$24,000,000
Office
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Players
Sarasota Office Market Snapshot
Boundary boundary · Office · Sale transactions
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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