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Lance Zar Of Zar Capital Group Acquires Retail Property In Tampa For $7.65M

Property Image
SOLD
$7,650,000

Florida

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Retail32,107 SF
Sold 11/27/2024
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Property Image
SOLD

Lance Zar Of Zar Capital Group Acquires Retail Property In Tampa For $7.65M

1773 West Fletcher Avenue

See Similar Deals
Retail32,107 SF
Sold 11/27/2024
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$238
Total Square Footage:32,107 SF
Transaction Type:Sale

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

Ari Ravi
Ripco
Ari Ravi
19 deals$217.9M volume
BROKER

Details

SOLD
IMAGE: Lance Zar, Ari Ravi, Oliver Etessami, Ilan Nass & Adam Bassalali DATE: 11/27/2024 ADDRESS: 1773 West Fletcher Avenue MARKET: Tampa ASSET TYPE: Retail BUYER: Lance Zar (@Lance_Zar) - Zar Capital Group; Adam Bassalali, Oliver Etessami & Ilan Nass SELLER: Dan Kaplan BROKER: Ari Ravi - Ripco (@RipcoRealEstate) SALE PRICE: $7,650,000 SF: 32,107 ~ PPSF: $238 NOTE FROM BUYER: Zar Capital Group is actively seeking to acquire well positioned, value add retail properties in growing markets across the United States. If you have opportunities to share, connect with Lance at [email protected].

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$408,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$27,178.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,264.90
Annual Debt Service$435,178.83