Shlomo Melloul Acquires Retail Property In Treasure Island For $5.85M With Broker Marcus & Millichap
SOLD
$5,850,000
Florida
See Similar DealsRetail20,000 SF
Sold 06/30/2023
SOLD
Shlomo Melloul Acquires Retail Property In Treasure Island For $5.85M With Broker Marcus & Millichap
118 107th Ave Treasure Island, FL 33706, USA
See Similar DealsRetail20,000 SF
Sold 06/30/2023
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$292
Total Square Footage:20,000 SF
Transaction Type:Sale
A retail property located at 118, 120 & 128 107th Avenue in Treasure Island has been sold in a recent transaction.
Summary of transaction details:
- Property Type: Retail
- Sale Price: $5,850,000
- Square Footage: 20,000
- Price Per Square Foot: $293
- Address: 118, 120 & 128 107th Avenue
- Market: Treasure Island
The buyer of this retail property was Shlomo Melloul. Representing the buyer in this transaction was Evan Cannan from Marcus & Millichap.
This transaction highlights the successful collaboration between Shlomo Melloul as the buyer and Evan Cannan from Marcus & Millichap as the representative. Both parties played a crucial role in ensuring the smooth acquisition of the retail property at 118, 120 & 128 107th Avenue in Treasure Island.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$312,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,783.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,731.98
Annual Debt Service$332,783.81
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