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Bougainvillea Center In Naples, Florida Sells For $6.6M With Buyer's Rep Marcus & Millichap
SOLD
$6,600,000
Florida
See Similar DealsRetail26,872 SF
Sold
SOLD
Bougainvillea Center In Naples, Florida Sells For $6.6M With Buyer's Rep Marcus & Millichap
7740 Preserve Ln Naples, FL 34119, USA
See Similar DealsRetail26,872 SF
Sold
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$245
Total Square Footage:26872 SF
Transaction Type:Sale
Bougainvillea Center, a retail property located at 7740 Preserve Lane in Naples, Florida, has been sold by Marcus & Millichap for $6.6 million. The shopping center sits on 2.83 acres of land and spans a total of 26,872 square feet. The sale price equates to approximately $246 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,600,000
- Address: 7740 Preserve Lane, Naples, Florida
- Market: Naples
- Size: 2.83 acres
The transaction was facilitated by the team at Marcus & Millichap, including brokers Jim Shiebler, James Garner, and James Medefind. Their efforts attracted significant interest in the property, resulting in 16 offers and a sale price that surpassed 96% of the list price.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$352,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,448.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,287.37
Annual Debt Service$375,448.41
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