Jacob Khotoveli Of JBL Asset Management Acquires Retail Center In Palm Harbor For $31M
35104 Us Highway 19
$31,000,000
$607/SF
Building Size
51,000 SF
Asset Type
Retail
Closing
Jun 16, 2026
About this deal
AI
The transaction involved a retail center located at 35104 U.S. Highway 19 North in Palm Harbor, Florida. The property, consisting of 51,000 square feet on a 10-acre site, was sold for $31 million, equating to approximately $607.84 per square foot. The asset is 91% leased and features a major tenant, Crunch Fitness, and is situated around 23 miles northwest of downtown Tampa.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $31,000,000
- Square Footage: 51,000
- Price per Square Foot: $608
- Buyer: Jacob Khotoveli - JBL Asset Management
- Seller: Alderman Group
- Market: Palm Harbor, FL
- Acres: 10.0
The buyer, Jacob Khotoveli, represents JBL Asset Management, while the seller is Alderman Group. This acquisition results in JBL Asset Management expanding its portfolio with an asset that has significant leasing in an established market.
On the Map
$31,000,000
$607/SF
Retail
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North 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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93