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5652 Meadowlane Street

Updated Dec 4, 2024

Bayonet Plumbing Acquires Office Building In New Port Richey For $2.75M
SOLDOffice

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

Heidi Tuttle-Beisner

CAP Realty

Broker

$7.2M

vol

2 deals

Broker

New Port Richey Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $89 per square foot on a published $2.8M for 30,731 square feet (2023).

Visit Heidi Tuttle-Beisner to view all their deals.

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

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