Marcus & Millichap Sells Sun City Center Plaza Retail Property For $16.55M
SOLD
$16,550,000
Florida
See Similar DealsRetail97,654 SF
Sold 05/26/2022
SOLD
Marcus & Millichap Sells Sun City Center Plaza Retail Property For $16.55M
1601 Sun City Center Plaza, Sun City Center, Florida 33573, United States
See Similar DealsRetail97,654 SF
Sold 05/26/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$169
Total Square Footage:97,654 SF
Transaction Type:Sale
Located at 1601 Sun City Center Plaza in Sun City Center, this retail property spans over 10.36 acres. The transaction took place on May 26, 2022, and was facilitated by James Medefind of Medefind Garner Shiebler Group, representing Marcus & Millichap. The property consists of 97,654 square feet with a price per square foot of $169. The sale price for this transaction was $16,550,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $16,550,000
- Address: 1601 Sun City Center Plaza
- Market: Sun City Center
- Asset Type: Retail
- Acres: 10.36
James Medefind from Medefind Garner Shiebler Group, representing Marcus & Millichap, played a crucial role in this transaction. The deal demonstrates their expertise and successful negotiation skills in the retail market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$882,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$58,798.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,455.44
Annual Debt Service$941,465.32
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