Benjamin Genet, David Garfinkle & Craig Sternberg Acquire Clearwater Office For $14.6M
SOLD
Florida
See Similar DealsOffice110,249 SF
Sold 03/16/2021
SOLD
Benjamin Genet, David Garfinkle & Craig Sternberg Acquire Clearwater Office For $14.6M
5735 Rio Vista Dr, Clearwater, FL, USA
See Similar DealsOffice110,249 SF
Sold 03/16/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$132
Total Square Footage:110,249 SF
Transaction Type:Sale
The office property located at 5735, 5665, and 5500 Rio Vista Dr in Clearwater has been sold for a total price of $14,600,000. The property spans a total of 110,249 square feet, resulting in a price per square foot of $132.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $14,600,000
- Square Footage: 110,249
- Price per Square Foot: $132
- Address: 5735, 5665, and 5500 Rio Vista Dr, Clearwater
- Market: Clearwater
The buyers of the property are Benjamin Genet, David Garfinkle, and Craig Sternberg. The property was sold by Rio Vista Drive Industrial LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$778,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$51,870.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$69,211.45
Annual Debt Service$830,537.38
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