Carrera Family Investments Acquires Retail Property In Lakeland For $7.1M
SOLD
$7,125,000
+ 2
Florida
See Similar DealsRetail44,375 SF
Sold 07/28/2022
SOLD
Carrera Family Investments Acquires Retail Property In Lakeland For $7.1M
4000 US Route 98, Lakeland, Florida 33809, United States
See Similar DealsRetail44,375 SF
Sold 07/28/2022
+ 2
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$160
Total Square Footage:44,375 SF
Transaction Type:Sale
Located at 4000 US Hwy 98 N in Lakeland, this retail property was recently sold in a closed transaction. The property spans approximately 44,321 square feet and was sold for a total price of $7,125,000, resulting in a price per square foot of $161. The transaction took place on July 28, 2022.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $7,125,000
- Market: Lakeland
- Buyer: Carrera Family Investments, Inc - Jose Carrera
- Seller: Lakeland Retail, LLC - Steve Wathen
- Seller's Representative: Anthony Bernabe & Jordan Characo - Equity
- Image: Anthony Bernabe & Jordan Characo
- Date: July 28, 2022
The buyer of the property is Carrera Family Investments, Inc, represented by Jose Carrera. On the other side of the transaction, Lakeland Retail, LLC, represented by Steve Wathen, acted as the seller. Anthony Bernabe and Jordan Characo from Equity served as the seller's representatives. This deal showcases the involvement of key individuals and companies in the successful sale of the retail property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$379,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,313.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,776.14
Annual Debt Service$405,313.62
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