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915 North Summit Street

CrossMarc Services, LLC Acquires Crescent City Plaza Shopping Center In Crescent City For $2.7M
SOLDRetail

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

Jaidyn Smith

Legacy Real Estate Advisors

Broker

$2.7M

vol

1 deal

Broker

Christie Alexander

CrossMarc Services

Buyer

$12.1M

vol

2 deals

Buyer
CL
CrossMarc Services LLCBuyer

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