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Paul Merk Purchases Retail Portfolio From Steven Greathouse In Daytona Beach For $6.7M

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SOLD
$6,700,000

Florida

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Retail19,205 SF
Sold 08/05/2025
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Property Image
SOLD

Paul Merk Purchases Retail Portfolio From Steven Greathouse In Daytona Beach For $6.7M

700 Main Street, 701 Main Street & 705 Main Street

See Similar Deals
Retail19,205 SF
Sold 08/05/2025
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$348
Total Square Footage:19,205 SF
Transaction Type:Sale

The property involved in this transaction is a retail portfolio sale located at 700 Main Street, 701 Main Street, 705 Main Street, 37 N Atlantic Avenue, and numerous other parcels in Daytona Beach. The transaction was completed for a sale price of $6,700,000, encompassing a total square footage of 9,426, which translates to a price per square foot of $710.

Summary of transaction details:

  • Property Type: Retail (Portfolio Sale)
  • Transaction Amount: $6,700,000
  • Address: 700 Main Street, 701 Main Street, 705 Main Street, 37 N Atlantic Avenue, and numerous other parcels
  • Market: Daytona Beach
  • Buyer: Paul Merk
  • Seller: Steven Greathouse
  • Broker Representatives: Ricardo Esteves, Ronnie Issenberg & Gabriel Britti - Marcus & Millichap

Key individuals involved in this transaction include the buyer, Paul Merk, and the seller, Steven Greathouse. The brokerage firm Marcus & Millichap represented the transaction, with Ricardo Esteves, Ronnie Issenberg, and Gabriel Britti acting as the broker representatives facilitating the deal.

Players

Gabriel Britti
70 deals$502.2M volume(786) 522-7017
BROKER

Ricardo Esteves
Marcus & Millichap
60 deals$419.6M volume(786) 522-7054
BROKER

Ronnie Issenberg
Marcus & Millichap
71 deals$509.2M volume(786) 522-7013
BROKER

Marcus & Millichap
BROKERAGE

Details

SOLD
IMAGE: Ricardo Esteves, Gabriel Britti & Ronnie Issenberg DATE: 08/05/2025 ADDRESS: 700 Main Street, 701 Main Street, 705 Main Street, 37 N Atlantic Avenue, And Numerous Other Parcels MARKET: Daytona Beach ASSET TYPE: Retail (Portfolio Sale) BUYER: Paul Merk SELLER: Steven Greathouse BROKERS: Ricardo Esteves (@Ricardo_Esteves), Ronnie Issenberg (@RonIssenberg) & Gabriel Britti (@Gabriel.Britti) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $6,700,000 SF: 9,426 ~ PPSF: $710

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$357,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$23,803.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,761.42
Annual Debt Service$381,137.02