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1950 Viera Blvd LLC Acquires Retail Property In Viera For $3.1M

Property Image
SOLD
$3,100,000

Florida

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Retail16,008 SF
Sold
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Property Image
SOLD

1950 Viera Blvd LLC Acquires Retail Property In Viera For $3.1M

1950 Viera Blvd, Melbourne, FL, USA

See Similar Deals
Retail16,008 SF
Sold
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$193
Total Square Footage:16008 SF
Transaction Type:Sale

Located in Viera, the retail property at 1950 Viera Blvd was recently sold in a closed transaction. The property, with a total square footage of 16,008, was sold by ICV Viera LLC to 1950 Viera Blvd LLC. The deal was facilitated by broker Charine Lewis from JM Real Estate. The transaction took place on January 1, 2021, with a sale price of $3,100,000. This amounts to a price per square foot of $194.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $3,100,000
  • Square Footage: 16,008
  • Address: 1950 Viera Blvd
  • Market: Viera

This transaction showcases the successful collaboration between ICV Viera LLC and 1950 Viera Blvd LLC, with Charine Lewis of JM Real Estate representing the buyer in the deal. The sale of this retail property highlights the ongoing activity and investment opportunities in the Viera market.

Players

Charine Lewis
Charine Lewis
1 deal$3.1M volume
BROKER

Details

SOLD
IMAGE: Charine Lewis DATE: 01/01/2021 ADDRESS: 1950 Viera Blvd. MARKET: Viera ASSET TYPE: Retail BUYER: 1950 Viera Blvd LLC SELLER: ICV Viera LLC BROKER: Charine Lewis - JM Real Estate PRICE: $3,100,000 SF: 16,008 ~ PPSF: $194

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

$165,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98