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362 St Armands Cir, Sarasot...

Limestone Asset Management & Orion Real Estate Group Acquire Retail Space In Sarasota For $15.5M
SOLDRetail

Limestone Asset Management & Orion Real Estate Group Acquire Retail Space In Sarasota For $15.5M

362 St Armands Cir, Sarasota, FL, USA & 362 St Armands Cir, Sarasota, FL, USA

$15,500,000

Building Size

Asset Type

Retail

Closing

Sep 28, 2020

AI

The retail property located at 362 St. Armands Circle & 371 St. Armands Circle in Sarasota has been sold for a price of $15,500,000. The transaction took place on September 29, 2020. The property is owned by Limestone Asset Management & Orion Real Estate Group.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $15,500,000
  • Address: 362 St. Armands Circle & 371 St. Armands Circle, Sarasota
  • Market: Sarasota

The sale of the property was facilitated by CBRE brokers Mark Drazek and Ray Romano. They represented the buyer, Limestone Asset Management & Orion Real Estate Group, in this transaction.

Players

Mark Drazek

CBRE

Broker

$15.5M

vol

1 deal

Broker
Limestone Asset Management
Limestone Asset ManagementBuyer

Sarasota Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.02%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93