Lote Group Acquires Retail Property In Tampa For $7.7M
2540 East Fowler Avenue
$7,700,000
$300/SF
Building Size
25,619 SF
Asset Type
Retail
Closing
Nov 19, 2021
AI
Milestone Properties Inc has sold a retail property located at 2540-2576 E Fowler Ave in Tampa. The property spans 25,619 square feet and was purchased by Lote Group for a total sale price of $7,700,000. The transaction took place on November 19, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,700,000
The deal was facilitated by CBRE brokers, Mark Shellabarger and Ari Ravi, who represented both the buyer and seller in this transaction.
Tampa 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
2.06%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93