Cobalt Real Estate Solutions Acquires Retail Property In Gainesville For $19.1M
SOLD
$19,100,000
Florida
See Similar DealsRetail165,705 SF
Sold 01/21/2022
SOLD
Cobalt Real Estate Solutions Acquires Retail Property In Gainesville For $19.1M
2649 NW 13th St, Gainesville, Florida 32609, United States
See Similar DealsRetail165,705 SF
Sold 01/21/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$115
Total Square Footage:165,705 SF
Transaction Type:Sale
A retail property located at 2649 NW 13th St. in Gainesville has been sold for $19,100,000. The property spans an area of 16.5 acres and offers 165,705 square feet of space. The sale was facilitated by Brad Peterson and Whitaker Leonhardt from JLL Capital Markets, representing the buyer and seller, respectively.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $19,100,000
- Address: 2649 NW 13th St., Gainesville
- Market: Gainesville
- Acres: 16.5
Cobalt Real Estate Solutions acquired the property from Wicker Park Capital Management and Riverstone Capital Group. Brad Peterson from JLL Capital Markets represented the buyer, while Whitaker Leonhardt, also from JLL Capital Markets, represented the seller in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,018,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$67,858.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$90,543.74
Annual Debt Service$1,086,524.93
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