Lorton Management Corporation Acquires Retail Property In Melbourne For $2.975M
1921 Alma Drive, Melbourne, Florida 32904, United States
$2,975,000
Building Size
—
Asset Type
Retail
Closing
Sep 20, 2022
AI
The retail property located at 1921 Alma Drive in Melbourne was recently sold for a price of $2,975,000. The property spans approximately 0.53 acres and is situated in a prime location within the market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,975,000
- Address: 1921 Alma Drive
- Market: Melbourne
- Acres: 0.53
The buyer of the property is Lorton Management Corporation, while the seller is CORE 420, LLC. The deal was facilitated by Barry Wolfe and Alan Lipsky from Marcus & Millichap, who represented their respective clients.
Players
Melbourne Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.33%
Cash-on-Cash
-1.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93