Frank Silverman Sells Retail Property To Chipotle Mexican Grill, Inc For $4.45M In Tampa
SOLD
$4,450,000
Florida
See Similar DealsRetail3,310 SF
Sold 09/29/2025
SOLD
Frank Silverman Sells Retail Property To Chipotle Mexican Grill, Inc For $4.45M In Tampa
2708 West Dr. Martin Luther King Jr Boulevard
See Similar DealsRetail3,310 SF
Sold 09/29/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,344
Total Square Footage:3,310 SF
Transaction Type:Sale
The property asset involved is located at 2708 West Dr. Martin Luther King Jr Boulevard in Tampa, designated for retail use. It has a sale price of $4,450,000 and encompasses a total square footage of 3,310, resulting in a price per square foot of $1,344. The capitalization rate for this transaction stands at 4.46%.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,450,000
- Square Footage: 3,310
- Price per Square Foot: $1,344
- Cap Rate: 4.46%
- Seller: Frank Silverman
- Tenant: Chipotle Mexican Grill, Inc
- Brokers: Jake Lurie & Andrew Doerr - Matthews
Jake Lurie and Andrew Doerr, representing Matthews, were the brokers involved in the deal, providing their expertise throughout the transaction process.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$237,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,809.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,095.27
Annual Debt Service$253,143.24
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