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David McComas Of European Equities Acquisition Purchases Office Building From Clearwater Housing Authority For $5.3M
SOLD
Florida
See Similar DealsOffice68,936 SF
Sold 03/21/2026
SOLD
David McComas Of European Equities Acquisition Purchases Office Building From Clearwater Housing Authority For $5.3M
28050 Us Highway 19 N
See Similar DealsOffice68,936 SF
Sold 03/21/2026
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$76
Total Square Footage:68,936 SF
Transaction Type:Sale
A 68,936-square-foot office building located at 28050 U.S. Highway 19 N in Clearwater was sold for $5.3 million. The property occupies 3.71 acres and was 42.9% occupied at the time of sale.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,300,000
- Address: 28050 Us Highway 19 N
- Market: Clearwater
- Asset Size: 68,936 SF
- Price per SF: $77
- Buyer: David McComas - European Equities Acquisition
- Seller: Clearwater Housing Authority
- Brokers: Darpan Patel, Samantha Kelley, Dan Yozwiak & Jonathan Gerszberg - Marcus & Millichap
The transaction involved David McComas representing European Equities Acquisition, which plans to invest further in the property. Brokers Darpan Patel, Samantha Kelley, and Dan Yozwiak acted on behalf of the Clearwater Housing Authority, while Jonathan Gerszberg was responsible for procuring the buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$282,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,829.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,124.70
Annual Debt Service$301,496.45
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