Retail Portfolio In Florida And Texas Sold For $21.4M With Brokers Scott Sandelin & Alex D'Alba
6276 West Waters Avenue, Tampa, FL, USA
$21,400,000
Building Size
—
Asset Type
Retail
Closing
Mar 24, 2021
About this deal
AI
The retail property portfolio located at 6276 West Waters Avenue, 3134 Tampa Road, 8708 Vineland Avenue, 9370 Atlantic Blvd, 404 SE 1st Avenue, 3721 Hwy 75 North, 2601 Dean Street, 25103 IH-10 West, and 18130 Coit Road has been sold. The properties are situated in Tampa FL, Oldsmar FL, Orlando FL, Jacksonville FL, Florida City FL, Sherman TX, Balch Springs TX, San Antonio TX, and Dallas, TX. The sale, facilitated by brokers Scott Sandelin and Alex D'Alba, took place on 03/25/2021.
Summary of transation details:
- Property Type: Retail
- Sale Price: $21,400,000
- Lot Size: 199,070 (Pollo Tropical Portfolio)
- CAP Rate: 5.20%
- Lot Size: 175,982 (Taco Cabana Portfolio)
- CAP Rate: 5.64%
Scott Sandelin and Alex D'Alba, representing the buyers and sellers of the retail properties, played key roles in the transaction. The sale marks a significant deal in the retail market, showcasing the demand for these properties in the Tampa, Oldsmar, Orlando, Jacksonville, Florida City, Sherman, Balch Springs, San Antonio, and Dallas areas. The CAP rates of 5.20% and 5.64% reflect the profitability potential of the Pollo Tropical Portfolio and Taco Cabana Portfolio, respectively.
On the Map
$21,400,000
Retail
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Players
Tampa 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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93