Chip Conk Acquires Retail Property In Temple Terrace For $10M
SOLD
$10,000,000
+ 1
Florida
See Similar DealsRetail16,872 SF
Sold 12/15/2022
SOLD
Chip Conk Acquires Retail Property In Temple Terrace For $10M
5249 E Fletcher Ave
See Similar DealsRetail16,872 SF
Sold 12/15/2022
+ 1
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$592
Total Square Footage:16,872 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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