Marcus & Millichap Facilitates $13.2M Retail Property Sale In Lakeland
3920 South Florida Avenue, Lakeland, Florida 33813, United States
$13,200,000
$600,000/SF
Building Size
22 SF
Asset Type
Retail
Closing
Jan 26, 2023
About this deal
AI
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.
The retail sale at 3920 South Florida Avenue, Lakeland, Florida 33813, United States in Lakeland, Florida sold for $13.2M in 2023. The building is 22 square feet, implying about 600K per square foot on the published price. Jonathan Gerszberg, Ronnie Issenberg, Gabriel Britti, Marcus & Millichap appear on the sale alongside Marcus & Millichap. This page is the Lakeland, Florida file for the 3920 South Florida Avenue, Lakeland, Florida 33813, United States retail sold: pricing, party profiles, and other closed retail comps from the same Lakeland sit in the Market section below. Filter that Lakeland retail set by closing date to see what else sold near 3920 South Florida Avenue, Lakeland, Florida 33813, United States around 2023. Published consideration for 3920 South Florida Avenue, Lakeland, Florida 33813, United States is $13.2M, dated 2023. Cite this Marcus & Millichap Facilitates $13.2M Retail Property Sale In Lakeland sale when underwriting similar retail product around Lakeland, Florida.
Players
Lakeland 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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93