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21708 Florida Highway 54, L...

Terps Acquisitions Acquires Retail Property In Lutz From Trulieve For $2M
SOLDRetail

Terps Acquisitions Acquires Retail Property In Lutz From Trulieve For $2M

21708 Florida Highway 54, Lutz, Florida 33556, United States

$2,000,000

$407/SF

Building Size

4,904 SF

Asset Type

Retail

Closing

Jun 16, 2022

AI

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.

Players

Aaron Labovitz

ABL Real Estate Partners

Broker

$66.9M

vol

9 deals

Broker

Lutz 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

7.93%

Cash-on-Cash

-2.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93