Tampa Venture Alliance LLC Acquires Retail Property On Bearss Ave For $8.5M
SOLD
$8,500,000
Florida
See Similar DealsRetail29,600 SF
Sold 01/25/2022
SOLD
Tampa Venture Alliance LLC Acquires Retail Property On Bearss Ave For $8.5M
2814 East Bearss Avenue, Tampa, Florida 33613, United States
See Similar DealsRetail29,600 SF
Sold 01/25/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$287
Total Square Footage:29,600 SF
Transaction Type:Sale
Located in Tampa, the property involved in the sale transaction is a retail asset situated at 2814 - 2828 Bearss Ave. Spanning across 29,600 square feet, this property showcases a vibrant commercial space in the Tampa market. The sale of this retail asset was brokered by Mark Shellabarger and Ari Ravi of CBRE.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,500,000
- Date: 01/22/2022
- Market: Tampa
- Buyer: Tampa Venture Alliance LLC
- Seller: Stanley Properties LLC
- Brokers: Mark Shellabarger and Ari Ravi - CBRE
- Square Footage: 29,600
- Price per Square Foot: $287
The buyer in this transaction, Tampa Venture Alliance LLC, successfully acquired the property from the seller, Stanley Properties LLC, for a total sale price of $8,500,000. The deal was facilitated by brokers Mark Shellabarger and Ari Ravi from CBRE. This transaction highlights the active retail market in Tampa and showcases the continued interest of investors in commercial properties within the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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