facebook
Traded Co logo
Submit

Carrera Family Investments Acquires Retail Property In Lakeland For $9.2M

Property Image
SOLD
$9,200,000
Kirk Olson
Drew Kristol
+ 2

Florida

See Similar Deals
Retail76,264 SF
Sold 02/17/2022
the dealplayerscompscontact
Property Image
SOLD

Carrera Family Investments Acquires Retail Property In Lakeland For $9.2M

2630 Hwy 92 E, Lakeland, Florida 33801, United States

See Similar Deals
Retail76,264 SF
Sold 02/17/2022
Kirk Olson
Drew Kristol
+ 2
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$120
Total Square Footage:76,264 SF
Transaction Type:Sale

Located at 2630 Highway 92 East in Lakeland, this retail property has recently changed hands in a sale transaction. The property spans across 76,264 square feet and was sold for a total price of $9,200,000, resulting in a price per square foot of $121. The sale took place on February 17, 2022.

Summary of transaction details

  • Property Type: Retail
  • Sale Price: $9,200,000
  • Square Footage: 76,264
  • Price per Square Foot: $121
  • Market: Lakeland

Jose Carrera of Carrera Family Investments acquired the property from CF Properties, with Spencer Friedman representing the seller. Maria Gueits from Avanti Way acted as the buyer's representative, while Kirk D. Olson and Drew A. Kristol, both from Marcus & Millichap, represented the seller in the deal.

Drew A. Kristol and Kirk D. Olson, investment specialists at Marcus & Millichap, exclusively marketed the property on behalf of CF Properties. The property, known as Eastside Village, has been a solid investment, boasting no vacancies for over seven years. Spencer Friedman, principal at CF Properties, expressed his satisfaction with the investment's performance.

Players

Drew Kristol
46 deals$560.5M volume(786) 522-7065
BROKER

Kirk Olson
Marcus & Millichap
46 deals$569.8M volume(786) 522-7064
BROKER

Maria Gueits
Avanti Way
4 deals$27.6M volume
BROKER


2 deals$44.8M volume
SELLER

Details

SOLD
IMAGE: Maria Gueits, Drew A. Kristol, Kirk D. Olson & Spencer Friedman DATE: 02/17/2022 ADDRESS: 2630 Highway 92 East MARKET: Lakeland ASSET TYPE: Retail BUYER: Jose Carrera - Carrera Family Investments SELLER: Spencer Friedman - CF Properties BUYER'S REP: Maria Gueits - Avanti Way SELLER'S REP: Kirk D. Olson & Drew A. Kristol - Marcus & Millichap SALE PRICE: $9,200,000 SF: 76,264 ~ PPSF: $121 NOTE FROM BROKERS: Drew A. Kristol and Kirk D. Olson, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, Miami-based CF Properties. “Eastside Village has been a very solid investment for our group, illustrated by the fact that the property has not seen a vacancy in more than seven years,” added Spencer Freidman, principal at CF Properties.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$490,666.68

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$32,685.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,612.69
Annual Debt Service$523,352.32