National Net Lease Group Sells Retail Property In Cape Coral And Melbourne For $12.5M
244 Nicholas Parkway West, Cape Coral, Florida 33991, United States
$12,500,000
$323/SF
Building Size
38,700 SF
Asset Type
Retail
Closing
Jan 11, 2022
About this deal
AI
An retail property located at 244 Nicholas Parkway West in Cape Coral and 4880 N. Wickham Road in Melbourne has been sold for $12,500,000. The property spans 38,700 square feet, resulting in a price per square foot of $323.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,500,000
- Address: 244 Nicholas Parkway West, Cape Coral
- Market: Cape Coral & Melbourne
The sale of this retail property was facilitated by Matthew Mousavi and Patrick Luther of National Net Lease Group, representing SRS Real Estate Partners.
Players
Cape Coral 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
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93