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
Clearwater Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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