Emerald Eagles LP Acquires Retail Property In New Smyrna Beach For $9.5M
SOLD
$9,500,000
Florida
See Similar DealsRetail101,728 SF
Sold 09/09/2022
SOLD
Emerald Eagles LP Acquires Retail Property In New Smyrna Beach For $9.5M
1421 South Dixie Freeway, New Smyrna Beach, Florida 32168, United States
See Similar DealsRetail101,728 SF
Sold 09/09/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$93
Total Square Footage:101,728 SF
Transaction Type:Sale
The retail property located at 1421 South Dixie Fwy in New Smyrna Beach has been sold in a transaction. The property spans 101,728 square feet and is situated in the New Smyrna Beach market.
Summary of Transaction Details:
- Property Type: Retail
- Transaction Amount: $9,500,000
- Date: 09/09/2022
- Address: 1421 South Dixie Fwy
- Market: New Smyrna Beach
The buyer of the property is Emerald Eagles LP, while the seller is RCC New Smyrna Beach Shopping Center LLC. The deal was facilitated by Kyle Stonis, Pierce Mayson, and Kevin Yaryan from the Investment Properties Group - SRS Real Estate Partners.
This transaction represents a significant sale in the retail market, indicating potential opportunities in the area. With the property changing hands at a price of $9,500,000, it showcases the value of commercial real estate in New Smyrna Beach.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$506,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,751.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,034.85
Annual Debt Service$540,418.16
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