Zaffar Tabani Of The Tabani Group Acquires Clearwater Retail Asset For $28.25M From NADG
2514 State Road 580
$28,250,000
$213/SF
Building Size
132,191 SF
Asset Type
Retail
Closing
Sep 16, 2025
AI
The property asset involved in the transaction is the Courtyard at Countryside shopping center located at 2514-2532 State Road 580, Clearwater. This retail asset encompasses 12 acres and has a total square footage of 132,191, with a sale price of $28,250,000, resulting in a price per square foot of $214.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $28,250,000
- Address: 2514-2532 State Road 580
- Market: Clearwater
- Size: 132,191 SF
- Price per SF: $214
- Buyer: Zaffar Tabani - The Tabani Group
- Seller: John W.S. Preston - North American Development Group (NADG)
- Acquisition Year by Seller: 2015
- Previous Sale Price by Seller: $25,500,000
The deal involved Zaffar Tabani representing The Tabani Group as the buyer, and John W.S. Preston representing North American Development Group as the seller. The transaction showcases the involvement of established entities in the retail market.
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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93