Genesis Commercial Group Acquires Retail Property In Tampa For $4.1M
SOLD
$4,100,000
Florida
See Similar DealsRetail8,874 SF
Sold 11/24/2021
SOLD
Genesis Commercial Group Acquires Retail Property In Tampa For $4.1M
1902 N Dale Mabry Hwy, Tampa, FL, USA
See Similar DealsRetail8,874 SF
Sold 11/24/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$462
Total Square Footage:8,874 SF
Transaction Type:Sale
Genesis Commercial Group has acquired a retail property located at 1902 N. Dale Mabry in Tampa. The property sits on approximately 1.19 acres of land. The transaction was closed on November 24, 2021, with a sale price of $4,100,000. The property spans a total area of 8,874 square feet, resulting in a price per square foot of $462.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $4,100,000
- Address: 1902 N. Dale Mabry, Tampa
- Market: Tampa
- Acres: 1.19
The buyer, Genesis Commercial Group, acquired the property from Ben Mallah, who represented Equity Management Partners as the seller. Ari Ravi from CBRE served as the broker in this transaction, assisting both the buyer and the seller in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$218,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,566.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.10
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