Abacus Heights LLC Acquires Office Property In Tampa For $2.05M
SOLD
$2,050,000
Florida
See Similar DealsOffice23,535 SF
Sold 10/25/2021
SOLD
Abacus Heights LLC Acquires Office Property In Tampa For $2.05M
1514 N Florida Ave, Tampa, FL, USA
See Similar DealsOffice23,535 SF
Sold 10/25/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$87
Total Square Footage:23,535 SF
Transaction Type:Sale
The office property located at 1514 N. Florida Ave. in Tampa has been sold in a transaction valued at $2,050,000. The property spans 23,535 square feet and was purchased by Abacus Heights LLC. The seller in this deal was The Salvation Army.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,050,000
- Square Footage: 23,535
- Price per Square Foot: $87
- Address: 1514 N. Florida Ave., Tampa
- Market: Tampa
Representing the buyer, Abacus Heights LLC, was Raj Patel. The seller, The Salvation Army, was represented by brokers Jack Koehler and Bill Eshenbaugh of Eshenbaugh Land Co.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$109,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,283.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,718.05
Annual Debt Service$116,616.55
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