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3920 South Florida Avenue, ...

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

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

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.

Players

Gabriel Britti

Marcus & Millichap

Broker

$502.2M

vol

70 deals

Broker

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