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7905 Front Beach Road, Pana...

Eddie Surkin & Alicia Surkin Acquire Retail Property In Panama City Beach For $1.6M
SOLDRetail

Eddie Surkin & Alicia Surkin Acquire Retail Property In Panama City Beach For $1.6M

7905 Front Beach Road, Panama City Beach, Florida 32407, United States

$1,600,000

$768/SF

Building Size

2,083 SF

Asset Type

Retail

Closing

Mar 3, 2022

AI

7905 Front Beach Rd., located in Panama City Beach, FL, has recently been sold in a retail transaction. The property spans 2,083 square feet and was sold for a total price of $1,600,000, equating to a price per square foot of $768.

Summary of transaction details

The retail transaction was facilitated by the brokers Rick Ramirez, Eric Mandell, Chris Kim, and Luc Hawkshaw from Ally Commercial Real Estate. They represented the buyer, Eddie Surkin, and Alicia Surkin, in this deal.

Players

Luc Hawkshaw

Ally Commercial Real Estate

Broker

$171.2M

vol

26 deals

Broker

Eddie Surkin

Buyer

$6.9M

vol

3 deals

Buyer

Panama City Beach Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93