Island Associates Real Estate Acquires Retail Property In Brooksville For $9.2M
31070 Cortez Boulevard, Brooksville, Florida 34602, United States
$9,200,000
$106/SF
Building Size
86,815 SF
Asset Type
Retail
Closing
Feb 14, 2022
About this deal
AI
The retail property located at 31070-31188 Cortez Blvd in Brooksville has been sold for $9,200,000. The transaction took place on February 15, 2022. The property spans an area of 86,815 square feet, resulting in a price per square foot of $106.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,200,000
- Address: 31070-31188 Cortez Blvd, Brooksville
- Market: Brooksville
The buyer of the property is Island Associates Real Estate, while the seller is ProVest Properties, LLC. The deal was facilitated by Brad Peterson and Whitaker Leonhardt from JLL Capital Markets representing both parties.
On the Map
$9,200,000
$106/SF
Retail
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Players
Brooksville 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
1.72%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93