Bayonet Plumbing Acquires Office Building In New Port Richey For $2.75M
5652 Meadowlane Street
$2,750,000
$89/SF
Building Size
30,731 SF
Asset Type
Office
Closing
Oct 9, 2023
About this deal
AI
Bayonet Plumbing, Heating & Air Conditioning, represented by Robbie Blankenship, has purchased a 30,731 sq ft office building located at 5652 Meadowlane Street in New Port Richey. The property was acquired for a total sale price of $2.75 million. This transaction allowed Bayonet Plumbing to consolidate its operations from four previous locations. The seller in this deal was the Doyle Farm Family Limited Partnership.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2,750,000
- Address: 5652 Meadowlane Street
- Market: New Port Richey
- Buyer: Bayonet Plumbing, Heating & Air Conditioning (Represented by Robbie Blankenship)
- Seller: Doyle Farm Family Limited Partnership
- Broker: Heidi Tuttle-Beisner (CAP Realty)
- Square Footage: 30,731
- Price Per Square Foot: $89
This transaction not only signifies Bayonet Plumbing's growth and expansion but also demonstrates the strategic decision to streamline its operations by consolidating its locations into one central office building. By acquiring this property, Bayonet Plumbing will now have a dedicated space to carry out its plumbing, heating, and air conditioning services in New Port Richey.
Players
New Port Richey 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
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93