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Marcus & Millichap Sells Retail Portfolio In Venice, Clearwater, Pensacola, Jacksonville, Palm Coast, Dania Beach, Gainesville, Lakeland & Vero Beach For $14.8M

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SOLD
$14,818,000

Florida

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Retail39,899 SF
Sold 09/06/2021
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Property Image
SOLD

Marcus & Millichap Sells Retail Portfolio In Venice, Clearwater, Pensacola, Jacksonville, Palm Coast, Dania Beach, Gainesville, Lakeland & Vero Beach For $14.8M

1290 Jacaranda Boulevard, Venice, FL, USA

See Similar Deals
Retail39,899 SF
Sold 09/06/2021
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$371
Total Square Footage:39,899 SF
Transaction Type:Sale

The retail property located at 1290 Jacaranda Boulevard, 645 Bayway Boulevard, 3119 North Davis Highway, 4020 Northwest 26th Street, 6259 Beach Boulevard, 28 North Old Kings Road, 520 Stirling Road, 1527 Northwest 6th Street, 1644 Florida Avenue North, and 1814 Commerce Avenue was recently sold in a closed transaction. The property spans across 8.46 acres and is situated in various markets including Venice, Clearwater, Pensacola, Jacksonville, Palm Coast, Dania Beach, Gainesville, Lakeland, and Vero Beach. The total purchase price for the property amounted to $14,818,000, with a price per square foot of $371. The transaction took place on September 6, 2021.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $14,818,000
  • Total Square Footage: 39,899
  • Price per Square Foot: $371

The deal was brokered by Jessica Harris, Chad E. Atwood, and Simon Grigoryan of Marcus & Millichap. They represented the parties involved in the transaction, ensuring a successful sale of the retail property.

Players

Jessica Harris
5 deals$40.6M volume
BROKER

Chad E. Atwood
Marcus & Millichap
7 deals$53.2M volume
BROKER

Simon Grigoryan
Marcus & Millichap
12 deals$74.7M volume
BROKER

Details

SOLD
IMAGE: Jessica Harris, Chad E. Atwood & Simon Grigoryan DATE: 09/06/2021 ADDRESS: 1290 Jacaranda Boulevard, 645 Bayway Boulevard, 3119 North Davis Highway, 4020 Northwest 26th Street, 6259 Beach Boulevard, 28 North Old Kings Road, 520 Stirling Road, 1527 Northwest 6th Street, 1644 Florida Avenue North & 1814 Commerce Avenue MARKET: Venice, Clearwater, Pensacola, Jacksonville, Palm Coast, Dania Beach, Gainesville, Lakeland & Vero Beach ASSET TYPE: Retail ~ ACRES: 8.46 ~ PPA: $1,751,537 BROKERS: Jessica Harris, Chad E. Atwood & Simon Grigoryan - Marcus & Millichap SALE PRICE: $14,818,000 SF: 39,899 ~ PPSF: $371

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$790,293.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$52,645.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$70,244.88
Annual Debt Service$842,938.56