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One Global Property Management Acquires Shoppes At Cloverplace In Tampa For $9.233M

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SOLD
$9,233,000

Florida

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Retail54,600 SF
Sold 06/09/2023
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SOLD

One Global Property Management Acquires Shoppes At Cloverplace In Tampa For $9.233M

3223 Tampa Rd Palm Harbor, FL 34684, USA

See Similar Deals
Retail54,600 SF
Sold 06/09/2023
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$169
Total Square Footage:54,600 SF
Transaction Type:Sale

The Shoppes at Cloverplace, a 54,600-square-foot shopping complex located at 3223 Tampa Road in Palm Harbor, has been sold for $9.233 million. The property is situated on 7 acres of land and is known for its popular tenants such as Pint and Brew, Mystic Fish restaurant, and Sweet Caroline's Bakery & Cafe.

Summary of transaction details

  • Property Type: Retail
  • Sale Price: $9,233,000
  • Square Footage: 54,600
  • Price Per Square Foot: $169
  • Address: 3223 Tampa Road, Palm Harbor
  • Market: Palm Harbor

The buyer of The Shoppes at Cloverplace is One Global Property Management, represented by James Puddle from the same agency. The seller in this transaction is Highland Lakes. The lender involved in the deal is Southstate Bank.

Players

BUYER

Details

SOLD
IMAGE: James Puddle DATE: 06/09/2023 ADDRESS: 3223 Tampa Road MARKET: Palm Harbor ASSET TYPE: Retail ~ ACRES: 7 BUYER: One Global Property Management - James Puddle SELLER: Highland Lakes LENDER: Southstate Bank (@SouthStateBank) SALE PRICE: $9,233,000 SF: 54,600 ~ PPSF: $169 NOTE: The Shoppes at Cloverplace, a 54,600-square-foot shopping complex in Tampa, has been sold for $9.233 million to an LLC connected to One Global Property Management. The property features popular tenants such as Pint and Brew, Mystic Fish restaurant, and Sweet Caroline's Bakery & Cafe.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$32,802.89
Cash-on-Cash Return-1.27%
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