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Sholom Eckhaus And Shea Schneider Acquire Retail Property In Port St Lucie For $2.8M

Property Image
SOLD
$2,800,000

Florida

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Retail17,000 SF
Sold 09/04/2024
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Property Image
SOLD

Sholom Eckhaus And Shea Schneider Acquire Retail Property In Port St Lucie For $2.8M

7630 US Route 1

See Similar Deals
Retail17,000 SF
Sold 09/04/2024
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$164
Total Square Footage:17,000 SF
Transaction Type:Sale

The property asset involved in this transaction is located at 7630 S US HWY 1, Port St Lucie. It is categorized as a retail property, encompassing a total space of 17,000 square feet and transacted for a sale price of $2,800,000, resulting in a price per square foot of $164.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,800,000
  • Address: 7630 S US HWY 1
  • Market: Port St Lucie
  • Square Footage: 17,000
  • Price Per Square Foot: $164
  • Buyer: Sholom Eckhaus & Shea Schneider - Vennco Equities
  • Seller: Anthony Altino
  • Broker: Charles Moody - Horvath & Tremblay

Sholom Eckhaus and Shea Schneider, representing Vennco Equities, have expressed enthusiasm regarding the acquisition, indicating plans to develop the property into a vibrant retail hub that will benefit the surrounding community. This acquisition marks a significant expansion for Vennco Equities' portfolio of strip retail centers.

Players

Charles Moody
Vero Capital Group
Charles Moody
8 deals$44.6M volume
BROKER

Details

SOLD
IMAGE: Sholom Eckhaus, Charles Moody & Shea Schneider DATE: 09/04/2024 ADDRESS: 7630 S US HWY 1 MARKET: Port St Lucie ASSET TYPE: Retail BUYER: Sholom Eckhaus & Shea Schneider - Vennco Equities SELLER: Anthony Altino BROKER: Charles Moody - Horvath & Tremblay SALE PRICE: $2,800,000 SF: 17,000 ~ PPSF: $164 NOTE FROM BUYER: Vennco Equities is excited to announce our recent acquisition of 7630 S US HWY 1 in Port St. Lucie. This prime property is a valuable addition to our expanding portfolio of strip retail centers. We are eager to transform this space into a vibrant and thriving hub that will enhance the community and drive our continued growth.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$149,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14