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Gettel Automotive Acquires Stadium Toyota In Tampa For $18.8M

Property Image
SOLD
$18,800,000

Florida

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Retail
Sold 10/30/2023
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Property Image
SOLD

Gettel Automotive Acquires Stadium Toyota In Tampa For $18.8M

5088 North Dale Mabry Highway

See Similar Deals
Retail
Sold 10/30/2023
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Transaction Type:Sale

The Stadium Toyota car dealership located at 5088 North Dale Mabry Highway in Tampa has been sold to Gettel Automotive for an estimated price of $18.8 million. With a total area of 10.4 acres, this retail property acquisition solidifies Gettel Automotive's position as the 57th largest dealership group in the U.S.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $18,800,000
  • Address: 5088 North Dale Mabry Highway, Tampa
  • Market: Tampa
  • Acres: 10.4

James Gettel, representing Gettel Automotive, acted as the buyer in this transaction. Ron Parks, from the Parks Motor Group, served as the seller. Kerrigan Advisors facilitated the deal as the broker. Truist Bank provided a mortgage of $16.4 million as the lender for the purchase.

This acquisition strengthens Gettel Automotive's presence in Tampa's automotive industry and further expands their dealership portfolio.

Players

Truist Bank
Truist Bank
LENDER

Details

SOLD
IMAGE: James Gettel & Ron Parks DATE: 10/30/2023 ADDRESS: 5088 North Dale Mabry Highway MARKET: Tampa ASSET TYPE: Retail ~ ACRES: 10.4 BUYER: Gettel Automotive - James Gettel SELLER: Ron Parks - Parks Motor Group BROKER: Kerrigan Advisors LENDER: Truist Bank (@Truist) SALE PRICE: $18,800,000 NOTE: Gettel Automotive has purchased Stadium Toyota, one of Tampa's largest car dealerships, for an estimated $18.8 million. The acquisition, including a $16.4 million mortgage from Truist Bank, solidifies Gettel Automotive's position as the 57th largest dealership group in the U.S.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,002,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$66,792.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$89,121.59
Annual Debt Service$1,069,459.10