Lamar Cos And Real Capital Solutions Acquire Retail Property In Daytona Beach For $12.2M
SOLD
$12,200,000
+ 1
Florida
See Similar DealsRetail204,185 SF
Sold 09/14/2021
SOLD
Lamar Cos And Real Capital Solutions Acquire Retail Property In Daytona Beach For $12.2M
2455 W International Speedway Blvd, Daytona Beach, FL, USA
See Similar DealsRetail204,185 SF
Sold 09/14/2021
+ 1
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$59
Total Square Footage:204,185 SF
Transaction Type:Sale
The retail property located at 2455 W International Speedway Blvd in Daytona Beach has been sold for a price of $12,200,000. The property spans approximately 204,185 square feet, resulting in a price per square foot of $60. The transaction took place on September 14, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $12,200,000
- Address: 2455 W International Speedway Blvd
- Market: Daytona Beach
- SF: 204,185
- PPSF: $60
The buyers of the property are Lamar Cos and Real Capital Solutions, while the seller is Real Capital Solutions. The transaction was facilitated by brokers Whitaker Leonhardt, Tommy Isola, Coler Yoakam, and Brad Peterson from JLL Capital Markets.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$650,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,344.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,834.22
Annual Debt Service$694,010.69
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