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4975 South Florida Avenue

Raymond DeAngelo Acquires Retail Property In Lakeland For $4.8M
SOLDRetail

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

Chad Kurz

Matthews

Broker

$80.8M

vol

11 deals

Broker

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