Raymond DeAngelo Acquires Retail Property In Lakeland For $4.8M
SOLD
$4,800,000
Florida
See Similar DealsRetail7,984 SF
Sold 09/28/2023
SOLD
Raymond DeAngelo Acquires Retail Property In Lakeland For $4.8M
4975 South Florida Avenue
See Similar DealsRetail7,984 SF
Sold 09/28/2023
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$601
Total Square Footage:7,984 SF
Transaction Type:Sale
Located at 4975 South Florida Avenue in Lakeland, this retail property recently changed hands in a sale transaction. The property spans a total of 7,984 square feet, with a price per square foot of $601. The sale price for the property was $4,800,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,800,000
- Square Footage: 7,984
- Price per Square Foot: $601
The buyer of this retail property was Raymond DeAngelo, while Jay Weinberg acted as the seller. The transaction was facilitated by Nick Hahn, Chad Kurz, and Kevin Puder of Matthews Real Estate Investment Services, who served as the brokers. They played a vital role in bringing the buyer and seller together, ensuring a successful transaction.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$256,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39
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