Morgan Automotive Group Acquires Bill Bryan Kia And Chrysler Dodge Jeep Ram Dealerships In Lake County For $19.125M
9039 US-441 Leesburg, FL 34788
$19,125,000
Building Size
—
Asset Type
Retail
Closing
May 9, 2023
About this deal
AI
Tampa-based Morgan Automotive Group has acquired two car dealerships in Lake County, Florida for a combined $19.125 million. The sites, formerly known as Bill Bryan Kia and Bill Bryan Chrysler Dodge Jeep Ram dealerships, have been renamed Kia of Leesburg and Chrysler Dodge Jeep Ram of Leesburg, respectively. The properties are located at 9039 US 441 and 3401 US 27/US 441 in the markets of Leesburg and Fruitland Park.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $19,125,000
- Buyer: Morgan Automotive Group - Brett Morgan
- Seller: Bryan Acquisitions LLC & FWB Investments LTD - William Bryan II - Bill Bryan Kia
- Date: 05/09/2023
- Market: Leesburg & Fruitland Park
Morgan Automotive Group, represented by Brett Morgan, was the buyer in this transaction. The seller was Bryan Acquisitions LLC & FWB Investments LTD, with William Bryan II as their representative. The acquisition of these car dealerships expands Morgan Automotive Group's presence in Lake County, Florida, and allows them to rebrand the two sites as Kia of Leesburg and Chrysler Dodge Jeep Ram of Leesburg.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93