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Tiffany & Richard Le Acquire Retail Property At 3527 West Waters Avenue For $4.218M

Property Image
SOLD
$4,218,000
Dan Yozwiak
Darpan Patel
Bobby Gross

Florida

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Retail23,334 SF
Sold 11/08/2024
the dealplayerscompscontact
Property Image
SOLD

Tiffany & Richard Le Acquire Retail Property At 3527 West Waters Avenue For $4.218M

3527 West Waters Avenue

See Similar Deals
Retail23,334 SF
Sold 11/08/2024
Dan Yozwiak
Darpan Patel
Bobby Gross
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$180
Total Square Footage:23,334 SF
Transaction Type:Sale

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:

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

Darpan Patel
Marcus & Millichap
Darpan Patel
18 deals$57M volume(813) 387-4812
BROKER
Dan Yozwiak
Marcus & Millichap
Dan Yozwiak
16 deals$53.7M volume(614) 360-9036
BROKER
Bobby Gross
Marcus & Millichap
Bobby Gross
6 deals$17.5M volume(813) 387-4776
BROKER

Details

SOLD
IMAGE: Darpan Patel, Bobby Gross & Dan Yozwiak DATE: 11/08/2024 ADDRESS: 3527 West Waters Avenue MARKET: Tampa ASSET TYPE: Retail BUYER: Tiffany & Richard Le SELLER'S REP: Bobby Gross, Darpan Patel (@Dp_CRE_NNN) & Dan Yozwiak - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $4,218,000 SF: 23,334 ~ PPSF: $180 NOTE FROM BROKER: Closing Highlights 2 Retail Strips with 38% Vacancy Upside. 1.8-AC Prime Corner Lot with 30k+ VPD. Successfully Represented a Repeat Client. Sourced Multiple Competitive Offers within 30 days from Listing. Quick Turnaround: 48 Days From Listing to Contract

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

$224,959.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,985.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,995.47
Annual Debt Service$239,945.66