Abacus Heights LLC Acquires Office Property In Tampa For $2.05M
1514 N Florida Ave, Tampa, FL, USA
$2,050,000
$87/SF
Building Size
23,535 SF
Asset Type
Office
Closing
Oct 24, 2021
About this deal
AI
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
Tampa 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
7.74%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93