CrossMarc Services, LLC Acquires Crescent City Plaza Shopping Center In Crescent City For $2.7M
915 North Summit Street
$2,700,000
$56/SF
Building Size
47,945 SF
Asset Type
Retail
Closing
Nov 16, 2023
AI
Winter Park-based CrossMarc Services, LLC has acquired Crescent City Plaza, a 47,945-square-foot grocery-anchored shopping center in Crescent City, Florida, for $2.7 million. The property, located at 915 North Summit Street, spans 7.57 acres and features Save-A-Lot and Family Dollar as tenants. The transaction took place in the Crescent City market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,700,000
- Address: 915 North Summit Street
- Market: Crescent City
- Asset Type: Retail
- Acres: 7.57
CrossMarc Services, LLC was represented by Christie Alexander and Flavia Kanyago in the acquisition of Crescent City Plaza. The sellers, Jimmy and Leo Island Properties, were represented by Jaidyn Smith from Legacy Real Estate Advisors. CrossMarc Services, LLC plans to handle leasing and management of the property, which already includes Save-A-Lot and Family Dollar as tenants.
Overall, this purchase marks Winter Park-based CrossMarc Services, LLC's expansion into the Crescent City market, as they add Crescent City Plaza to their portfolio of properties.
Players
Crescent City 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
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93