Tiffany & Richard Le Acquire Retail Property At 3527 West Waters Avenue For $4.218M
3527 West Waters Avenue
$4,218,000
$180/SF
Building Size
23,334 SF
Asset Type
Retail
Closing
Nov 8, 2024
About this deal
AI
The property asset involved in the transaction is located at 3527 West Waters Avenue in the Tampa market. This retail asset consists of 23,334 square feet and was sold for $4,218,000, reflecting a price per square foot of $180.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,218,000
- Buyer: Tiffany & Richard Le
- Seller's Representative: Bobby Gross, Darpan Patel & Dan Yozwiak - Marcus & Millichap
- Market: Tampa
- Vacancy Upside: 38%
- Lot Size: 1.8 acres
- Vehicles Per Day: 30,000+
- Time from Listing to Contract: 48 days
The transaction involved Bobby Gross, Darpan Patel, and Dan Yozwiak representing the seller through Marcus & Millichap. The brokers successfully represented a repeat client and were able to source multiple competitive offers within 30 days of the listing.
Players
Tampa 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
3.76%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93