ExchangeRight Acquires Retail Property In Gulf Breeze For $19.9M
SOLD
$19,900,000
Florida
See Similar DealsRetail66,279 SF
Sold 04/23/2021
SOLD
ExchangeRight Acquires Retail Property In Gulf Breeze For $19.9M
1430 Tiger Park Lane, Gulf Breeze, FL, USA
See Similar DealsRetail66,279 SF
Sold 04/23/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$300
Total Square Footage:66,279 SF
Transaction Type:Sale
A retail property located at 1430 Tiger Park Lane in Gulf Breeze has been sold for a price of $19,900,000. The property spans 66,279 square feet, resulting in a price per square foot of $300. The transaction took place on April 23, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $19,900,000
- Address: 1430 Tiger Park Lane
- Market: Gulf Breeze
- Square Footage: 66,279
- Price per Square Foot: $300
The buyer of the property was ExchangeRight, while the seller was MAB American and DRA Advisors. The deal was facilitated by Brad Peterson, Whitaker Leonhardt, and Tommy Isola from JLL Capital Markets.
Players
BROKERAGE
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,061,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$70,700.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,336.15
Annual Debt Service$1,132,033.83
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