Marcus & Millichap Brokers Sell Retail Property In Palatka For $8.5M
SOLD
$8,500,000
Florida
See Similar DealsRetail195,826 SF
Sold 03/03/2022
SOLD
Marcus & Millichap Brokers Sell Retail Property In Palatka For $8.5M
400 N State Road 19, Palatka, FL 32177
See Similar DealsRetail195,826 SF
Sold 03/03/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$43
Total Square Footage:195,826 SF
Transaction Type:Sale
A retail property located at 400 N. State Road 19 in Palatka has been sold for $8,500,000. The property spans 31.45 acres and offers a total of 195,826 square feet of space. The sale took place on March 3, 2022. The property was listed by Ray Turchi, David Vaughan, and Casey Barker from Marcus & Millichap. The sale price translates to a price per square foot of $43.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,500,000
- Address: 400 N. State Road 19, Palatka
- Market: Palatka
- Acres: 31.45
The deal was facilitated by Ray Turchi, David Vaughan, and Casey Barker from Marcus & Millichap. They represented the parties involved in the transaction. The retail property boasts an ample amount of space and is situated in a prime location. The sale of this property signifies a significant investment in the Palatka market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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