Tricon Development Acquires Retail Property For $8.7M In Lake Mary
601 Weldon Boulevard, Lake Mary, Florida 32746, United States
$8,700,000
$170/SF
Building Size
51,052 SF
Asset Type
Retail
Closing
Apr 3, 2022
About this deal
AI
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.
On the Map
$8,700,000
$170/SF
Retail
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Players
Lake Mary 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
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93