CBRE Brokers Mark Shellabarger & Ari Ravi Sell Retail Property In Sarasota For $8.8M
SOLD
$8,800,000
Florida
See Similar DealsRetail38,837 SF
Sold 10/14/2021
SOLD
CBRE Brokers Mark Shellabarger & Ari Ravi Sell Retail Property In Sarasota For $8.8M
3880 Central Sarasota Parkway, Sarasota, FL 34238, USA
See Similar DealsRetail38,837 SF
Sold 10/14/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$226
Total Square Footage:38,837 SF
Transaction Type:Sale
A retail property located at 3880-3916 Central Sarasota Parkway in Sarasota was recently sold for $8,800,000. The property spans 38,837 square feet, resulting in a price per square foot of $227.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $8,800,000
The sale of this retail property was facilitated by Mark Shellabarger and Ari Ravi of CBRE. They represented the parties involved in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$469,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,264.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,716.49
Annual Debt Service$500,597.87
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