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Avison Young Brokers Sell Retail Property In Vero Beach For $8.3M

Property Image
SOLD
$8,269,000
Keith O'Donnell
Richard Murphy
Jonathan Hipp
+ 1

Florida

See Similar Deals
Retail87,992 SF
Sold 08/15/2023
the dealplayerscompscontact
Property Image
SOLD

Avison Young Brokers Sell Retail Property In Vero Beach For $8.3M

7400 20th St Vero Beach, Fl 32966, Usa

See Similar Deals
Retail87,992 SF
Sold 08/15/2023
Keith O'Donnell
Richard Murphy
Jonathan Hipp
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$94
Total Square Footage:87,992 SF
Transaction Type:Sale

The property involved in the transaction is a retail asset located at 7400 20th Street in Vero Beach. The property spans a total area of 87,992 square feet and was sold for a price of $8,269,000, resulting in a price per square foot of $94. The transaction took place on August 15, 2023.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $8,269,000
  • Square Footage: 87,992
  • Address: 7400 20th Street, Vero Beach
  • Market: Vero Beach

The key individuals involved in the deal include Keith O'Donnell, Richard Murphy, Jonathan Hipp, and Tim Farrell. They represented Avison Young in this transaction. Keith O'Donnell's LinkedIn profile can be found at linkedin.com/in/keithodonnellrealestate/, Richard Murphy's LinkedIn profile at linkedin.com/in/rich-murphy-ccim-72660b4/, Jonathan Hipp's LinkedIn profile at linkedin.com/in/jonathanhipp/, and Tim Farrell's LinkedIn profile at linkedin.com/in/tim-farrell-9a524086/.

Players

Keith O'Donnell
Avison Young
Keith O'Donnell
11 deals$165.8M volume(561) 893-7011
BROKER
Richard Murphy
Avison Young
Richard Murphy
3 deals$34.8M volume(910) 376-2757
BROKER
Jonathan Hipp
Avison Young
Jonathan Hipp
3 deals$43.7M volume(703) 787-4725
BROKER
Tim Farrell
Avison Young
Tim Farrell
1 deal$8.3M volume(202) 915-8409
BROKER

Details

SOLD
IMAGE: Jonathan Hipp, Keith O'Donnell, Tim Farrell & Richard Murphy DATE: 08/15/2023 ADDRESS: 7400 20th Street MARKET: Vero Beach ASSET TYPE: Retail BROKERS: Keith O'Donnell (linkedin.com/in/keithodonnellrealestate/), Richard Murphy (linkedin.com/in/rich-murphy-ccim-72660b4/), Jonathan Hipp (linkedin.com/in/jonathanhipp/) & Tim Farrell (linkedin.com/in/tim-farrell-9a524086/)- Avison Young (@Avison_Young_Global) SALE PRICE: $8,269,000 SF: 87,992 ~ PPSF: $94

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

$441,013.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$29,378.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,199.28
Annual Debt Service$470,391.34