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BoldAge PACE Acquires New Port Richey Office Building For $4.4M
SOLD
$4,400,000
Florida
See Similar DealsOffice45,594 SF
Sold 10/09/2023
SOLD
BoldAge PACE Acquires New Port Richey Office Building For $4.4M
9912 Little Road
See Similar DealsOffice45,594 SF
Sold 10/09/2023
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$96
Total Square Footage:45,594 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$234,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,632.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,858.24
Annual Debt Service$250,298.94
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