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6520 Northwest 9th Boulevard

Mick Vorbeck Acquires Retail Property In Gainesville For $2.56M
SOLDRetail

Mick Vorbeck Acquires Retail Property In Gainesville For $2.56M

6520 Northwest 9th Boulevard

$2,563,000

$444/SF

Building Size

5,767 SF

Asset Type

Retail

Closing

Jan 9, 2024

AI

The retail property located at 6520 Northwest 9th Boulevard in Gainesville has been sold for a price of $2,563,000. The property spans 5,767 square feet, resulting in a price per square foot of $444.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,563,000
  • Address: 6520 Northwest 9th Boulevard, Gainesville
  • Market: Gainesville

Mick Vorbeck has purchased the property from Jeff Sap. The deal was facilitated by brokers Jake Allen, Ryan Burke, Michael Moreno, and Rahul Chhajed from Matthews Real Estate Investment Services.

It is noteworthy that the property was sold at a price per square foot of $444, reflecting its value in the market.

Players

Michael Moreno

Matthews

Broker

$116.4M

vol

18 deals

Broker

Mick Vorbeck

Buyer

$12.8M

vol

2 deals

Buyer

Gainesville 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

6.19%

Cash-on-Cash

-1.77%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93