Publix Super Market Acquires Retail Property In Tampa For $7.25M
8701 W Hills borough AveTampa, FL 33615, USA
$7,250,000
$113/SF
Building Size
64,031 SF
Asset Type
Retail
Closing
Aug 30, 2023
About this deal
AI
Publix Super Market has purchased a 6.29-acre retail property located at 8701 West Hillsborough Avenue in Tampa. The property consists of a 64,031-square-foot store and was sold for $7.25 million. The transaction was facilitated by Evan Cannan of Marcus & Millichap acting as the broker for the seller, Hillsborough Memorial LLC.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,250,000
- Address: 8701 West Hillsborough Avenue
- Market: Tampa
- Acres: 6.29
Publix Super Market exercised its right of first refusal to acquire the property. The listing did not initially specify a price, which attracted significant interest. Within days, the property received six offers. Publix Super Market matched the top offer to secure the purchase of the property.
On the Map
$7,250,000
$113/SF
Retail
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Tampa 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
2.19%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93