Ally Capital Group Acquires Clearwater Office Property For $18M
SOLD
$18,000,000
Florida
See Similar DealsOffice135,221 SF
Sold 09/13/2022
SOLD
Ally Capital Group Acquires Clearwater Office Property For $18M
5500 Rio Vista Drive, Clearwater, Florida 33760, United States
See Similar DealsOffice135,221 SF
Sold 09/13/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$133
Total Square Footage:135,221 SF
Transaction Type:Sale
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
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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