Limestone Asset Management & Orion Real Estate Group Acquire Retail Space In Sarasota For $15.5M
SOLD
$15,500,000
Florida
See Similar DealsRetail
Sold 09/29/2020
SOLD
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
See Similar DealsRetail
Sold 09/29/2020
Summary
FLORIDA
Asset Type:Retail
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$826,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,068.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,477.91
Annual Debt Service$881,734.89
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