Lance Zar Of Zar Capital Group Acquires Retail Property In Tampa For $7.65M
1773 West Fletcher Avenue
$7,650,000
$238/SF
Building Size
32,107 SF
Asset Type
Retail
Closing
Nov 27, 2024
AI
The property asset involved in the transaction is a retail space located at 1773 West Fletcher Avenue in Tampa. The sale price was $7,650,000, and the property encompasses 32,107 square feet, translating to a price per square foot of $238.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,650,000
- Address: 1773 West Fletcher Avenue
- Market: Tampa
- Square Footage: 32,107
- Price Per Square Foot: $238
- Buyer: Lance Zar - Zar Capital Group; Adam Bassalali, Oliver Etessami & Ilan Nass
- Seller: Dan Kaplan
- Broker: Ari Ravi - Ripco
The buyers of the property are Lance Zar, representing Zar Capital Group, along with Adam Bassalali, Oliver Etessami, and Ilan Nass. Zar Capital Group is focused on acquiring well-positioned, value-add retail properties in growing markets across the United States. If opportunities arise, connections can be made with Lance at [email protected].
Players
Tampa Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.07%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93