BoldAge PACE Acquires New Port Richey Office Building For $4.4M
9912 Little Road
$4,400,000
$96/SF
Building Size
45,594 SF
Asset Type
Office
Closing
Oct 9, 2023
About this deal
AI
An affiliate of BoldAge PACE has purchased a 45,594-square-foot office building located at 9912 Little Road in New Port Richey for $4.4 million. The property spans across 9.27 acres and is situated in the New Port Richey market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,400,000
- Address: 9912 Little Road
- Market: New Port Richey
- Square Footage: 45,594
- Price Per Square Foot: $97
The buyer, BoldAge PACE, plans to convert the building into a Program of All-Inclusive Care for the Elderly (PACE) facility, providing comprehensive medical and social services to elderly individuals.
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
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93