David Neubauer Acquires Retail Property From Brightworks In Sarasota For $5.75M
SOLD
$5,750,000
Florida
See Similar DealsRetail3,732 SF
Sold 03/19/2024
SOLD
David Neubauer Acquires Retail Property From Brightworks In Sarasota For $5.75M
1836 Fruitville Road
See Similar DealsRetail3,732 SF
Sold 03/19/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,540
Total Square Footage:3,732 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,428.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,257.93
Annual Debt Service$327,095.20
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