Raymond DeAngelo Acquires Retail Property In Lakeland For $4.8M
4975 South Florida Avenue
$4,800,000
$601/SF
Building Size
7,984 SF
Asset Type
Retail
Closing
Sep 28, 2023
AI
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
Lakeland 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
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93