Maple Street Management Acquires Office Building In Port Charlotte For $6.2M With Adam J. Tiktin As Seller
22395 Edgewater Drive
$6,201,500
$500/SF
Building Size
12,400 SF
Asset Type
Office
Closing
May 7, 2025
About this deal
AI
The property asset involved in the transaction is an office located at 22395 Edgewater Drive in Port Charlotte. The sale price for the property was $6,201,500, with a total square footage of 12,400, equating to a price per square foot of $500.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,201,500
- Buyer: Maple Street Management
- Seller: Adam J. Tiktin & Sylvia Tiktin - United Capital
- Sale Date: May 8, 2025
- Entity Involved in Sale: Deland Is My Land, LLC, dba United Capital
- Previous Acquisition: Acquired by United Capital in December 2023 for $4.89 million through a 1031 Exchange
- Tenant: Florida Cancer Specialists & Research Institute (FCS)
- FCS's Position: Long-term tenant remaining at the location, part of a network of nearly 100 facilities
Adam J. Tiktin and Sylvia Tiktin represented United Capital in this transaction. The successful closing reflects the continuity of operations for Florida Cancer Specialists & Research Institute at this site, ensuring ongoing healthcare services in the area.
On the Map
$6,201,500
$500/SF
Office
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Players
Punta Gorda Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93