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
Sarasota 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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93