Gladstone Development Acquires Fort Walton Beach Retail Property For $2.275M
402 Mary Esther Cut Off, Fort Walton Beach, Florida 32548, United States
$2,275,000
$400/SF
Building Size
5,675 SF
Asset Type
Retail
Closing
Oct 13, 2022
About this deal
AI
The retail property located at 402 Mary Esther Cutoff NW in Fort Walton Beach has been sold in a recent transaction. The property spans 5,675 square feet and was sold for a price of $2,275,000, resulting in a per square foot price of $401. The sale took place on October 14, 2022.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $2,275,000
- Address: 402 Mary Esther Cutoff NW, Fort Walton Beach
- Market: Fort Walton Beach
- Buyer: Gladstone Development
- Seller: Hermas Morel LLC
- Buyer's Representative: Marc D. Kleiner - Kleiner Law Group
The buyer in this transaction was Gladstone Development, represented by Marc D. Kleiner of Kleiner Law Group. The seller was Hermas Morel LLC. The deal closed on 10/14/2022, and the property, located at 402 Mary Esther Cutoff NW, spans 5,675 square feet. The sales price was $2,275,000, resulting in a per square foot price of $401.
Players
Fort Walton Beach 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
6.97%
Cash-on-Cash
-1.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93