Altamonte Outback LLC Acquires Outback Steakhouse Property In Altamonte Springs For $4.3M
140 N State Rd 434 Altamonte Springs, Fl 32714, Usa
$4,300,000
$612/SF
Building Size
7,020 SF
Asset Type
Retail
Closing
Jun 23, 2023
About this deal
AI
Altamonte Outback LLC has acquired a property in Altamonte Springs, Florida, for $4.3 million. The property is located at 140 North State Road 434 and spans 1.4 acres. It includes a ground lease held by Bloomin' Brands for the new Outback Steakhouse. The retail asset has a total square footage of 7,020 and a price per square foot of $613.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,300,000
- Address: 140 North State Road 434, Altamonte Springs, Florida
- Market: Altamonte Springs
- Acres: 1.4
The seller of the property is Millenia Partners, represented by Brian Grandstaff. Pegasus Investment Real Estate Advisory acted as the broker in this transaction, assisting Altamonte Outback LLC in the acquisition.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.69%
Cash-on-Cash
-1.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93