Deland, FL Retail Property Refinanced For $7M With 7-Year Term At 3.57%
FINANCED
$7,000,000
Florida
See Similar DealsRetail82,822 SF
Financed 01/12/2022
FINANCED
Deland, FL Retail Property Refinanced For $7M With 7-Year Term At 3.57%
328 East New York Avenue, DeLand, Florida 32724, United States
See Similar DealsRetail82,822 SF
Financed 01/12/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$84
Total Square Footage:82,822 SF
Transaction Type:Loan
A retail property located at 328 New York Avenue in Deland, FL has undergone a refinancing transaction. The property spans an area of 82,822 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,000,000
- Address: 328 New York Avenue
- Market: Deland, FL
The transaction was facilitated by the brokers from BlackBearCapitalPartners, namely Sam Warnick, Brandon Harris, and David Michalski.
The refinance loan obtained for the 82,822 square foot retail property amounts to $7,000,000. It is a 7-year term loan with a fixed interest rate of 3.57%. The loan includes one year of interest-only payments. The financing for this transaction was provided by a balance sheet lender.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,000,000.00
Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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