Joseph Caretta Acquires Retail Property In Sarasota For $10.3M
7190 University Parkway, Sarasota, Florida 34240, United States
$10,278,000
Building Size
—
Asset Type
Retail
Closing
Apr 15, 2021
AI
Located at 7190 University Pkwy in Sarasota, this retail property was recently sold for a transaction amount of $10,278,000. The property is situated in the Sarasota market, known for its vibrant retail sector. The sale of this property marks a significant deal in the market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $10,278,000
Joseph Caretta, a buyer in this transaction, acquired the property from Boos Development. Represented by Will Pike of CBRE, Boos Development played a crucial role in facilitating the sale process. On the buyer's side, the representatives from Meridian Investment Sales, including David Schechtman, Lipa Lieberman, and Abie Kassin, provided valuable guidance and support throughout the deal. Will Pike, acting as the seller's representative, represented Boos Development in this transaction.
Players
Sarasota 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
1.54%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93