Chip Conk Acquires Retail Property In Temple Terrace For $10M
5249 E Fletcher Ave
$10,000,000
$592/SF
Building Size
16,872 SF
Asset Type
Retail
Closing
Dec 15, 2022
About this deal
AI
The property involved in this transaction is a retail asset located at 5249 E Fletcher Ave in Temple Terrace. The property spans 16,872 square feet and was sold for a total price of $10,000,000, resulting in a price per square foot of $593.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $10,000,000
- Address: 5249 E Fletcher Ave
- Market: Temple Terrace
The buyer of the property is Chip Conk, while the seller is Samuel Tarantino. The transaction was facilitated by the brokers Michael Moreno, Rahul Chhajed, and Pedrum Lavassani from Matthews Real Estate Investment Services.
On the Map
$10,000,000
$592/SF
Retail
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Players
Temple Terrace 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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93