Ross Realty Investments Inc Acquires Retail Property In Vero Beach For $5.3M
SOLD
$5,300,000
Florida
See Similar DealsRetail11,480 SF
Sold 12/13/2021
SOLD
Ross Realty Investments Inc Acquires Retail Property In Vero Beach For $5.3M
5125 20th Street, Vero Beach, Florida 32966, United States
See Similar DealsRetail11,480 SF
Sold 12/13/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$461
Total Square Footage:11,480 SF
Transaction Type:Sale
Located at 5125 20th St in Vero Beach, this retail property was recently sold in a transaction that took place on 12/13/2021. The property spans a total area of 11,480 square feet and was sold by Konover South to Ross Realty Investments Inc for a total price of $5,300,000. With a price per square foot of $462, this transaction showcases the value of this retail asset in the Vero Beach market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,300,000
- Address: 5125 20th St, Vero Beach
- Market: Vero Beach
The deal was facilitated by the brokers Drew Kristol, Kirk Olson, and Marc Yaffe from Marcus & Millichap, who represented both the buyer, Ross Realty Investments Inc, and the seller, Konover South. Their expertise and negotiation skills played a crucial role in successfully closing this transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$282,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,829.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,124.70
Annual Debt Service$301,496.45
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