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JTT Eagles LLC Acquires 9.4 Acre Retail Property In Leesburg For $7.5M

Property Image
SOLD
$7,500,000
Pierce Mayson
Kyle Stonis

Florida

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Retail81,071 SF
Sold 07/27/2023
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Property Image
SOLD

JTT Eagles LLC Acquires 9.4 Acre Retail Property In Leesburg For $7.5M

1101 W N Blvd Leesburg, FL 34748, USA

See Similar Deals
Retail81,071 SF
Sold 07/27/2023
Pierce Mayson
Kyle Stonis
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$92
Total Square Footage:81,071 SF
Transaction Type:Sale

The $7.5 million sale of Leesburg Marketplace, a 81,071-square-foot shopping center in Florida, has been brokered by SRS Real Estate Partners. The property is located at 1101 West North Boulevard in Leesburg and sits on 9.4 acres of land. The shopping center boasts a 90% occupancy rate and is home to popular tenants such as Ollie's Bargain Outlet and Dollar Tree.

Summary of transaction details

  • Property Type: Retail
  • Sale Price: $7,500,000
  • Square Footage: 81,071 SF
  • Price per Square Foot: $93
  • Address: 1101 West North Boulevard, Leesburg, Florida
  • Market: Leesburg
  • Acres: 9.4

The buyer in this transaction is JTT Eagles LLC, a Florida-based entity. Kyle Stonis and Pierce Mayson from SRS Real Estate Partners served as the brokers in the deal.

Players

Kyle Stonis
Matthews
Kyle Stonis
17 deals$235.4M volume(770) 329-5065
BROKER
Pierce Mayson
Matthews
Pierce Mayson
18 deals$242.4M volume(770) 241-2232
BROKER

Details

SOLD
IMAGE: Pierce Mayson & Kyle Stonis DATE: 07/27/2023 ADDRESS: 1101 West North Boulevard MARKET: Leesburg ASSET TYPE: Retail ~ ACRES: 9.4 BUYER: JTT Eagles LLC BROKERS: Kyle Stonis & Pierce Mayson - SRS Real Estate Partners (@SRSRealEstatePartners) SALE PRICE: $7,500,000 SF: 81,071 ~ PPSF: $93 NOTE: SRS Real Estate Partners brokered the $7.5 million sale of Leesburg Marketplace, a 81,071-square-foot shopping center in Florida, with 90% occupancy and tenants such as Ollie's Bargain Outlet and Dollar Tree. The buyer was JTT Eagles LLC, a Florida-based entity.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
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