Tommy Ware - Northmarq Secures $4.5M Loan For Retail Property In Odessa
8538 Gunn Highway, Odessa, Florida 33556, United States
$4,500,000
$94/SF
Building Size
47,817 SF
Asset Type
Retail
Closing
Sep 26, 2022
About this deal
AI
A loan of $4,500,000 was secured for a retail property located at 8538 Gunn Hwy in Odessa. The property spans 47,817 square feet and sits on approximately 6 acres. Tommy Ware of Northmarq served as the broker in the transaction.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,500,000
- Address: 8538 Gunn Hwy
- Market: Odessa
- Square Footage: 47,817
- Acres: 6
The loan was secured by the borrower for the retail property located at 8538 Gunn Hwy in Odessa. Tommy Ware from Northmarq represented the parties involved in the deal.
Players
Odessa 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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93