John Middleton's Philadelphia Phillies Acquires Retail Property In Clearwater For $22.5M
21800 US Highway 19 North, Clearwater, Florida 33765, United States
$22,500,000
$167,910/SF
Building Size
134 SF
Asset Type
Retail
Closing
Oct 11, 2022
About this deal
AI
The property asset involved in this closed transaction is a retail property located at 21800 US Hwy 19 N in Clearwater. The transaction took place on 11/10/2022. The property spans a total area of 134,362 square feet and was sold for a price of $22,500,000, resulting in a price per square foot of $167.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $22,500,000
- Address: 21800 US Hwy 19 N, Clearwater
- Market: Clearwater
The buyer in this transaction is John Middleton, who is associated with the Philadelphia Phillies. The seller is Chad Hurst. The deal was facilitated by broker representatives Michael T. Fay, Brian C. de la Fé, John K. Crotty, David Duckworth, and Nick Robinson from Avison Young.
On the Map
$22,500,000
$167,910/SF
Retail
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Players
Clearwater 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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93