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5755 20th Street, Vero Beac...

Frank Rella Acquires Retail Property In Vero Beach For $6.9M
SOLDRetail

Frank Rella Acquires Retail Property In Vero Beach For $6.9M

5755 20th Street, Vero Beach, Florida 32966, United States

$6,900,000

$87/SF

Building Size

78,600 SF

Asset Type

Retail

Closing

Jun 6, 2022

AI

A retail property located at 5755 20th St in Vero Beach has been sold for $6,900,000. The property spans 78,600 square feet and was sold at a price of $87.8 per square foot.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $6,900,000
  • Date: 06/07/2022
  • Address: 5755 20th St
  • Market: Vero Beach

The buyer of the property is Frank Rella, while the seller is Chris Blume. The transaction was facilitated by Daniel Gonzalez, Johnny Blue Craig, Connor Knauer, and Bill Pedersen from Matthews Real Estate Investment Services.

Players

Bill Pedersen

Broker

$94.2M

vol

5 deals

Broker

Chris Blume

Seller

$11.7M

vol

2 deals

Seller

Vero Beach 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

2.30%

Cash-on-Cash

-0.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93