B.H.B.M.C.- Brown Family Trust Acquires Retail Property In Odessa, FL For $11.5M
12359 State Road 54, Odessa, FL, USA
$11,500,000
$555/SF
Building Size
20,687 SF
Asset Type
Retail
Closing
Apr 28, 2021
About this deal
AI
The retail property located at 12225-12359 State Road 54 in Odessa, FL has been sold for a price of $11,500,000. The asset consists of a total of 20,687 square feet, with 17,122 square feet allocated for retail space and 3,565 square feet dedicated to a Chase Bank branch. The sale price per square foot stands at $556.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $11,500,000
The buyer of the property is the B.H.B.M.C.- Brown Family Trust, while the seller is KW Realty Fund III, LLC - KW Partners. The transaction was facilitated by Adam J. Tiktin from Tiktin Real Estate Investment Services, who represented the buyer.
Players
Odessa Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93