Crowder Plaza In Sarasota, Florida Sold For $8.2M With Buyer's Rep Berkshire Hathaway HomeServices
2507 Lakewood Ranch Blvd Bradenton, FL 34211, USA
$8,200,000
$328/SF
Building Size
25,000 SF
Asset Type
Retail
Closing
Jul 12, 2023
About this deal
AI
Ian Black Real Estate has brokered the $8.2 million sale of Crowder Plaza, a fully leased 25,000-square-foot retail center in Sarasota. The center includes tenants like Big Top Brewery and Domino's Pizza. The property, located at 2507 Lakewood Ranch Boulevard in Sarasota, offers a prime retail space in a bustling market. The sale price of $8.2 million reflects a price per square foot of $328, highlighting the value of this retail asset in the Sarasota market.
Summary of transaction details
- Property Type: Retail
- Sale Price: $8,200,000
- Square Footage: 25,000
- Price per Square Foot: $328
- Address: 2507 Lakewood Ranch Boulevard, Sarasota
- Market: Sarasota
The buyer, Crowder Village LLC, was represented by Marny Lewis from Berkshire Hathaway HomeServices, Florida Realty. On the other hand, George Brusco from Ian Black Real Estate represented the seller, Crowder Enterprises LLC. Both representatives played a crucial role in facilitating the successful transaction of Crowder Plaza. With their expertise and knowledge of the Sarasota market, they ensured a smooth deal for their respective clients.
Players
Miami 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
1.93%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93