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5735 Rio Vista Dr, Clearwat...

Benjamin Genet, David Garfinkle & Craig Sternberg Acquire Clearwater Office For $14.6M
SOLDOffice

Benjamin Genet, David Garfinkle & Craig Sternberg Acquire Clearwater Office For $14.6M

5735 Rio Vista Dr, Clearwater, FL, USA

$14,600,000

$132/SF

Building Size

110,249 SF

Asset Type

Office

Closing

Mar 15, 2021

AI

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.

Players

Benjamin Genet

Genet Property Group

Broker

$185M

vol

12 deals

Broker

David Garfinkle

Buyer

$62.5M

vol

3 deals

Buyer

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

1.09%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93