Private Investor Acquires Property At 9524 Blind Pass Rd In Treasure Island For $2.6M
SOLD
$2,600,000
Florida
See Similar DealsRetail18,750 SF
SOLD
Private Investor Acquires Property At 9524 Blind Pass Rd In Treasure Island For $2.6M
9524 Blind Pass Rd, Treasure Island, F...
See Similar DealsRetail18,750 SF
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$138
Total Square Footage:18,750 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$138,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92
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