EM Real Estate Development Florida Acquires Retail Property In Tallahassee For $3.2M
1435 E Lafayette St, Tallahassee, FL, USA
$3,200,000
$354/SF
Building Size
9,026 SF
Asset Type
Retail
Closing
Mar 29, 2020
AI
EM Real Estate Development Florida LLC has acquired a retail property located at 1435 E. Lafayette St in Tallahassee. The property spans 9,026 square feet and was sold for a total price of $3,200,000, resulting in a price per square foot of $354. The transaction was facilitated by Colliers International brokers Mike Milano, Sean Glickman, Chris Smith, and Brandon Rapone.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $3,200,000
- Address: 1435 E. Lafayette St
- Market: Tallahassee
- Square footage: 9,026
- Buyer: EM Real Estate Development Florida LLC
- Seller: Shuler Properties
- Brokers: Mike Milano, Sean Glickman, Chris Smith, and Brandon Rapone - Colliers International
Players
Tallahassee Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93