Marcus & Millichap Sells Retail Property In Port Charlotte For $7.1M
SOLD
$7,100,000
Florida
See Similar DealsRetail55,160 SF
Sold 09/30/2020
SOLD
Marcus & Millichap Sells Retail Property In Port Charlotte For $7.1M
4265 Tamiami Trail, Port Charlotte, FL 33980, USA
See Similar DealsRetail55,160 SF
Sold 09/30/2020
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$128
Total Square Footage:55,160 SF
Transaction Type:Sale
The property involved in this transaction is a retail asset located at 4265 Tamiami Trail in Port Charlotte. The property spans a total area of 55,160 square feet. The transaction took place on September 30, 2020, and was facilitated by brokers Jim Shiebler, James Garner, and James Medefind from Marcus & Millichap. The final sale price for the property was $7,100,000, resulting in a price per square foot of $129.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,100,000
- Address: 4265 Tamiami Trail
- Market: Port Charlotte
- Brokers: Jim Shiebler, James Garner & James Medefind – Marcus & Millichap
- Square Footage: 55,160
- Price per Square Foot: $129
This deal was successfully completed with the help of the skilled brokers from Marcus & Millichap, namely Jim Shiebler, James Garner, and James Medefind. Their expertise and negotiation skills were instrumental in finalizing the transaction for the retail property located at 4265 Tamiami Trail in Port Charlotte.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$378,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,224.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,657.62
Annual Debt Service$403,891.47
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