David Neubauer Acquires Retail Property From Brightworks In Sarasota For $5.75M
1836 Fruitville Road
$5,750,000
$1,540/SF
Building Size
3,732 SF
Asset Type
Retail
Closing
Mar 19, 2024
AI
The retail property located at 1836 Fruitville Road in Sarasota has been sold for $5,750,000. Spanning 3,723 square feet, the property was acquired by David Neubauer from the seller, Brightworks. The transaction was facilitated by Benedict Gutierrez from Berlin Group.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,750,000
- SF: 3,723
- PPSF: $1,544
- Buyer: David Neubauer
- Seller: Brightworks
- Buyer's Rep: Benedict Gutierrez - Berlin Group
- Address: 1836 Fruitville Road, Sarasota
Benedict Gutierrez from Berlin Group represented David Neubauer in the transaction, ensuring a successful deal for all parties involved.
Players
Sarasota 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
2.76%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93