Michael Houghton Acquires Retail Property In Davenport From Humberto Alem For $4.77M
SOLD
$4,772,823
Florida
See Similar DealsRetail6,262 SF
Sold 09/18/2024
SOLD
Michael Houghton Acquires Retail Property In Davenport From Humberto Alem For $4.77M
45670 US Route 27
See Similar DealsRetail6,262 SF
Sold 09/18/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$762
Total Square Footage:6,262 SF
Transaction Type:Sale
The property asset involves a retail space located at 45670 US Route 27 in the Davenport market. The sale price for this property was $4,772,823, with a total square footage of 6,262, resulting in a price per square foot of $762.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,772,823
- Square Footage: 6,262
- Price Per Square Foot: $762
- Buyer: Michael Houghton
- Seller: Humberto Alem
- Brokers: Ronnie Issenberg, Gabriel Britti & Don McMinn - Marcus & Millichap
- Date of transaction: 09/18/2024
This transaction involved key individuals including the buyer, Michael Houghton, and the seller, Humberto Alem, facilitated by brokers Ronnie Issenberg, Gabriel Britti, and Don McMinn, all representing Marcus & Millichap in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$254,550.56
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,956.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,625.62
Annual Debt Service$271,507.39
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