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Bezrat H. Corp Purchases Seven Hills Plaza Retail Center In Spring Hill For $17 Million
SOLD
$17,000,000
Florida
See Similar DealsRetail87,286 SF
Sold 12/03/2024
SOLD
Bezrat H. Corp Purchases Seven Hills Plaza Retail Center In Spring Hill For $17 Million
11146 Spring Hill Drive
See Similar DealsRetail87,286 SF
Sold 12/03/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$194
Total Square Footage:87,286 SF
Transaction Type:Sale
A retail center located at 11146-11170 Spring Hill Drive in Spring Hill has been sold for $17,000,000. The property spans 87,286 square feet and has a price per square foot of $195. It is anchored by Planet Fitness and Walgreens.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $17,000,000
- Square Footage: 87,286
- Address: 11146-11170 Spring Hill Drive
- Market: Spring Hill
- Buyer: Bezrat H. Corp.
- Seller: JM Schapiro - Continental Realty Corp.
- Brokers: Drew Kristol & Kirk Olson - Marcus & Millichap
Kirk Olson and Drew Kristol represented the seller, Continental Realty Corp., and were instrumental in securing Bezrat H. Corp. as the buyer in this transaction. Institutional Property Advisors facilitated the deal for the seven Hills Plaza retail center.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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