Ardent Development Acquires Retail Property In Sanford For $17.56 Million With John Dottore As Buyer's Rep
SOLD
$17,560,000
Florida
See Similar DealsRetail484,681 SF
Sold 03/14/2025
SOLD
Ardent Development Acquires Retail Property In Sanford For $17.56 Million With John Dottore As Buyer's Rep
200 Towne Center Circle
See Similar DealsRetail484,681 SF
Sold 03/14/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$36
Total Square Footage:484,681 SF
Transaction Type:Sale
The retail asset located at 200 & 330 Towne Center Circle & 595 Towne Center Boulevard in Sanford has been sold for $17,560,000. The property encompasses a total area of 484,681 square feet, translating to a price per square foot of $36.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $17,560,000
- Buyer: Ardent Development
- Seller: Felix Reznick - 4th Dimension Properties
- Buyer's Representative: John Dottore - Atlantic Retail
- Seller's Representative: Daniel Solomon - Katz & Associates Real Estate Advisors
The transaction involved key industry players, with John Dottore representing Ardent Development and Daniel Solomon representing Felix Reznick of 4th Dimension Properties, highlighting their roles in facilitating the deal within the Sanford market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$936,533.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,386.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$83,243.36
Annual Debt Service$998,920.30
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