Black Bear Capital Partners Arranges $2.08M Acquisition Loan For 6,300 SF Retail Property In Clearwater, FL With 5.55% Fixed-rate Interest
3245 Executive Drive
$2,080,000
$330/SF
Building Size
6,300 SF
Asset Type
Retail
Closing
Mar 10, 2023
About this deal
AI
The 6,300 SF retail property located at 3245 Executive Drive in Clearwater, FL, has been acquired through an acquisition loan. The property is a NNN single-tenant learning center.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,080,000
- Address: 3245 Executive Drive, Clearwater, FL
- Market: Clearwater, FL
- Square Footage: 6,300 SF
The loan for the acquisition was secured through Black Bear Capital Partners, with Eric Trombly as the broker representing the buyer. The loan terms include a 5-year fixed rate of 5.55% with interest-only payments.
Market Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.63%
Cash-on-Cash
-2.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93