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Marcus & Millichap Facilitates $13.2M Retail Property Sale In Lakeland

Property Image
SOLD
$13,200,000
Jonathan Gerszberg
Ronnie Issenberg
Gabriel Britti

Florida

See Similar Deals
Retail22 SF
Sold 01/26/2023
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Facilitates $13.2M Retail Property Sale In Lakeland

3920 South Florida Avenue, Lakeland, Florida 33813, United States

See Similar Deals
Retail22 SF
Sold 01/26/2023
Jonathan Gerszberg
Ronnie Issenberg
Gabriel Britti
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$600,000
Total Square Footage:22 SF
Transaction Type:Sale

A retail property located at 3920 Florida Avenue South in Lakeland has been sold for $13,200,000. The property spans 22,419 square feet, resulting in a price per square foot of $589.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $13,200,000
  • Address: 3920 Florida Avenue South
  • Market: Lakeland
  • SF: 22,419
  • PPSF: $589

The sale was facilitated by brokers Ronnie Issenberg, Gabriel Britti, and Jonathan Gerszberg from Marcus & Millichap.

Players

Gabriel Britti
Marcus & Millichap
Gabriel Britti
70 deals$502.2M volume(786) 522-7017
BROKER
Ronnie Issenberg
Marcus & Millichap
Ronnie Issenberg
71 deals$509.2M volume(786) 522-7013
BROKER
Jonathan Gerszberg
Marcus & Millichap
Jonathan Gerszberg
9 deals$76.4M volume
BROKER

Details

SOLD
IMAGE: Gabriel Britti, Ronnie Issenberg & Jonathan Gerszberg DATE: 01/26/2023 ADDRESS: 3920 Florida Avenue South MARKET: Lakeland ASSET TYPE: Retail BROKERS: Ronnie Issenberg (@Ronissenberg), Gabriel Britti (@Gabriel.Britti) & Jonathan Gerszberg (@Dr_Jonnny_G) - Marcus & Millichap (@MarcusMillichap_Fl) SALE PRICE: $13,200,000 SF: 22,419 ~ PPSF: $589

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$703,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$46,896.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$62,574.73
Annual Debt Service$750,896.81