Tommy’s Express Holdings Acquires Toale Brothers Funeral Home In Sarasota
6903 South Tamiami Trail
$2,300,000
$497/SF
Building Size
4,628 SF
Asset Type
Retail
Closing
Nov 10, 2023
About this deal
AI
Toale Brothers Funeral Home & Crematory in Sarasota has sold one of its mortuaries to car wash company Tommy's Express Holdings for $2.3 million. The property is located at 6903 South Tamiami Trail and covers an area of 0.8 acres. Built in 1971, the property spans 4,628 square feet and was sold at a price of $497 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,300,000
- Address: 6903 South Tamiami Trail
- Market: Sarasota
- Size: 0.8 acres
The buyer, Tommy's Express Holdings, was represented by Alex Lemmen. The seller, Toale Brothers Funeral Home & Crematory, was represented by Curt Toale.
It is worth noting that Tommy's Express Car Wash has applied for a permit for the site. Further details regarding the transaction remain undisclosed.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93