Private Investor Acquires Property At 9524 Blind Pass Rd In Treasure Island For $2.6M
9524 Blind Pass Rd, Treasure Island, F...
$2,600,000
$138/SF
Building Size
18,750 SF
Asset Type
Retail
Closing
Nov 20, 2023
AI
Mulligan’s Plaza is an 18,750-square-foot retail property located at 9524 Blind Pass Road, in the Treasure Island market. It was sold for $2,600,000.00.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,600,000.00
- Square Footage: 18,750
- Address: 9524 Blind Pass Rd, Treasure Island, FL
- Market: Treasure Island
- Buyer: Private Investor
- Seller: Mulligans Plaza LLC
- Buyer's Representatives: Evan Cannan - Marcus & Millichap, James Medefind - Marcus & Millichap
- Cap Rate: 5 percent
Evan Cannan and James Medefind, both of Marcus & Millichap, successfully represented the seller, Mulligans Plaza LLC, and secured the undisclosed buyer in this transaction. The property was closed at full list price and is situated approximately 27 miles from Tampa International Airport.
Players
Treasure Island 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
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93