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7020 Massachusetts Avenue

Hassan Ladha Acquires Retail Property In New Port Richey For $4.83M
SOLDRetail

Hassan Ladha Acquires Retail Property In New Port Richey For $4.83M

7020 Massachusetts Avenue

$4,830,000

$338/SF

Building Size

14,263 SF

Asset Type

Retail

Closing

Aug 5, 2022

AI

The retail property located at 7020 Massachusetts Ave in New Port Richey has been sold for $4,830,000. The property spans across 14,263 square feet, resulting in a price per square foot of $339. The transaction took place between the buyer, Hassan Ladha, and the seller, Allison McLeod.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $4,830,000
  • Address: 7020 Massachusetts Ave, New Port Richey
  • Square Footage: 14,263
  • Price per Square Foot: $339

In this deal, the buyer was represented by Jonathan De La Rosa from Marcus & Millichap, while the seller was represented by John Glass and Jason Hernandez.

Players

Jonathan De La Rosa

Marcus & Millichap

Broker

$659M

vol

145 deals

Broker
Hassan Ladha

Hassan Ladha

Buyer

$35M

vol

5 deals

Buyer
Allison McLeod

Allison McLeod

Seller

$75M

vol

4 deals

Seller

New Port Richey 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

3.28%

Cash-on-Cash

-0.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93