Terps Acquisitions Acquires Retail Property In Lutz From Trulieve For $2M
SOLD
$2,000,000
Florida
See Similar DealsRetail4,904 SF
Sold 06/17/2022
SOLD
Terps Acquisitions Acquires Retail Property In Lutz From Trulieve For $2M
21708 Florida Highway 54, Lutz, Florida 33556, United States
See Similar DealsRetail4,904 SF
Sold 06/17/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$407
Total Square Footage:4,904 SF
Transaction Type:Sale
A retail property located at 21708 FL-54 in Lutz has been sold for $2,000,000. The property spans an area of 4,904 square feet, resulting in a price per square foot of $408. The transaction took place on June 17, 2022, and involved the buyer, Kenneth Greif of Terps Acquisitions, and the seller, Trulieve. The deal was facilitated by brokers Brandon Lumish and Aaron Labovitz of ABL Real Estate Partners.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,000,000
Kenneth Greif, representing Terps Acquisitions, successfully purchased the property from Trulieve. The transaction was executed with the assistance of Brandon Lumish and Aaron Labovitz, who acted as brokers from ABL Real Estate Partners.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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