Ally Capital Group Acquires Clearwater Office Property For $18M
5500 Rio Vista Drive, Clearwater, Florida 33760, United States
$18,000,000
$133/SF
Building Size
135,221 SF
Asset Type
Office
Closing
Sep 12, 2022
AI
The office property located at 5500 Rio Vista Drive in Clearwater has been sold for a price of $18,000,000. The transaction took place on September 13, 2022. The property spans a total area of 135,221 square feet, resulting in a price per square foot of $133.
Summary of transation details
- Property Type: Office
- Transaction Amount: $18,000,000
- Address: 5500 Rio Vista Drive
- Market: Clearwater
The buyer of the property is Ally Capital Group, represented by Andrew Wright & Matthew Chadwick. The seller in the transaction is Genet Property Group & Biscayne Atlantic. The deal was facilitated by brokerage firm Cushman & Wakefield.
Players
Clearwater 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93