Ted Baker Acquires Retail Property In Spring Hill & Largo For $7.5M
SOLD
$7,500,000
Florida
See Similar DealsRetail10,020 SF
Sold 12/03/2021
SOLD
Ted Baker Acquires Retail Property In Spring Hill & Largo For $7.5M
1130 Commercial Way, Spring Hill, Florida 34606, United States
See Similar DealsRetail10,020 SF
Sold 12/03/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$748
Total Square Footage:10,020 SF
Transaction Type:Sale
The retail property located at 1130 Commercial Way and 115 Highland Avenue in Spring Hill and Largo has been sold for $7,500,000. The property spans across 10,020 square feet with a price per square foot of $749. The transaction took place on 12/03/2021, and the buyer of the property was Ted Baker, while the seller was David Dorton.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,500,000
- Address: 1130 Commercial Way and 115 Highland Avenue
- Market: Spring Hill and Largo
- Square Footage: 10,020
- Price Per Square Foot: $749
- Buyer: Ted Baker
- Seller: David Dorton
- Broker: Pedrum Lavassani, Michael Moreno & Rahul Chhajed - Matthews Real Estate Investment Services
Pedrum Lavassani, Michael Moreno, and Rahul Chhajed from Matthews Real Estate Investment Services represented both the buyer and seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
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