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JJR Apartments LLC Purchases Retail Property In Tampa For $6.1M
SOLD
$6,097,000
+ 3
Florida
See Similar DealsRetail15,120 SF
Sold 05/28/2024
SOLD
JJR Apartments LLC Purchases Retail Property In Tampa For $6.1M
4141 Hillsborough Avenue
See Similar DealsRetail15,120 SF
Sold 05/28/2024
+ 3
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$403
Total Square Footage:15,120 SF
Transaction Type:Sale
The property involved in the transaction is a 15,120-square-foot net-leased Walgreens located at 4141 West Hillsborough Avenue in Tampa, Florida. The sale price for this retail asset was $6,097,000, with a price per square foot of $403.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,097,000
- Buyer: JJR Apartments LLC
- Seller: CP Thunder FS LLC
- Brokers: Evan Kristol, Felipe Echarte, Gabriel Britti, Ronnie Issenberg & Ricardo Esteves - Marcus & Millichap
- Mortgage Broker: Christopher Marks - Marcus & Millichap
The deal was facilitated by investment specialists from Marcus & Millichap's Miami and Fort Lauderdale offices. The transaction also involved guidance from Christopher Marks, the mortgage broker at Marcus & Millichap. The strong demand for net-leased drug stores in Florida was evident in this sale, with $3,048,500 in balance sheet financing contributing to the $6,097,000 sale price.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$325,173.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,661.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,902.89
Annual Debt Service$346,834.69
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