Equity Management Partners Acquires Retail Property In Lake Mary For $46M
211 Wheelhouse Ln
$46,000,000
$368/SF
Building Size
125,000 SF
Asset Type
Retail
Closing
Jan 5, 2023
About this deal
AI
The retail property located at 211 Wheelhouse Ln in Lake Mary has been sold for a total price of $46,000,000. The property spans an area of 125,000 square feet, resulting in a price per square foot of $368. The transaction took place on January 5, 2023.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $46,000,000
- Address: 211 Wheelhouse Ln, Lake Mary
- Market: Lake Mary
The buyer, Equity Management Partners represented by Ben Mallah and Ben Mallah II, acquired the property from the seller, Unicorp National Developments Inc, represented by Chuck Whittall. The deal was facilitated by brokers Jacob Baruch, Daniel Baruch, and Jonah Warshaw of Legacy Realty Group Advisors.
With this transaction, Equity Management Partners expands its retail portfolio in Lake Mary, while Unicorp National Developments Inc divests from the property. The involvement of experienced brokers such as Jacob Baruch, Daniel Baruch, and Jonah Warshaw highlights the significance of this deal in the local market.
On the Map
$46,000,000
$368/SF
Retail
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Players
Lake Mary Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93