Brixmor Property Group Inc. Acquires Retail Property In Bonita Springs For $48.5M
SOLD
$48,500,000
Florida
See Similar DealsRetail281,443 SF
Sold 05/06/2021
SOLD
Brixmor Property Group Inc. Acquires Retail Property In Bonita Springs For $48.5M
3304 Bonita Beach Rd SW, Bonita Springs, FL, USA
See Similar DealsRetail281,443 SF
Sold 05/06/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$172
Total Square Footage:281,443 SF
Transaction Type:Sale
The retail property located at 3304 Bonita Beach Rd in Bonita Springs has been sold. The transaction took place on 05/06/2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $48,500,000
- Address: 3304 Bonita Beach Rd, Bonita Springs
- Market: Bonita Springs
- Square Footage: 281,443
- Price per Square Foot: $172
The buyer of the property was Brixmor Property Group Inc., represented by James M. Taylor Jr. & Angela Aman. The seller was AMCAP Inc. & American International Group Inc. The transaction was facilitated by the brokerage firm Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$172,310.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$229,914.74
Annual Debt Service$2,758,976.92
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