Tricon Development Acquires Retail Property For $8.7M In Lake Mary
SOLD
$8,700,000
Florida
See Similar DealsRetail51,052 SF
Sold 04/04/2022
SOLD
Tricon Development Acquires Retail Property For $8.7M In Lake Mary
601 Weldon Boulevard, Lake Mary, Florida 32746, United States
See Similar DealsRetail51,052 SF
Sold 04/04/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$170
Total Square Footage:51,052 SF
Transaction Type:Sale
The retail property located at 601 Weldon Blvd in Lake Mary has been sold. The property spans over 8 acres and was sold for $8,700,000, indicating a price per square foot of $170. The transaction took place on April 4, 2022.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $8,700,000
- Square Footage: 51,052
- Address: 601 Weldon Blvd, Lake Mary
- Market: Lake Mary
The buyer of the property was Tricon Development of Brevard Incorporated, while the seller was HS Capital Funds Inc. The deal was facilitated by Brad Peterson, Whitaker Leonhardt, and Tommy Isola from JLL Capital Markets.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$463,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,909.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,242.44
Annual Debt Service$494,909.26
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