SRS Real Estate Partners Sells Retail Properties In Lakeland & Melbourne For $12.1M
18800 Northwest 2nd Avenue, Miami, FL, USA
$12,100,000
$190/SF
Building Size
63,487 SF
Asset Type
Retail
Closing
Jul 16, 2020
About this deal
AI
Two retail properties in Lakeland and Melbourne have recently been sold for a total of $12,100,000. The first property, located at 5218 Florida Ave. S, spans 63,487 square feet, making the price per square foot $191. The second property is situated at 1257 W. New Haven Ave. The sale was facilitated by Matthew Mousavi, Patrick Luther, and Patrick Nutt of SRS Real Estate Partners.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $12,100,000
- Address: 5218 Florida Ave. S & 1257 W. New Haven Ave.
- Market: Lakeland & Melbourne
- Square Footage: 63,487
- Price Per Square Foot: $191
The deal was successfully closed with the assistance of Matthew Mousavi, Patrick Luther, and Patrick Nutt from SRS Real Estate Partners. Their expertise and knowledge in the retail market were instrumental in finalizing this transaction.
Players
Miami 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
1.31%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93