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5249 E Fletcher Ave

Chip Conk Acquires Retail Property In Temple Terrace For $10M
SOLDRetail

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

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.

Players

Michael Moreno

Matthews

Broker

$116.4M

vol

18 deals

Broker
Chip Conk

Chip Conk

Buyer

$220M

vol

7 deals

Buyer

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