Thomas Mergner Acquires Retail Property In Tarpon Springs For $4,673,460 With Brokers Jake Lurie & Daniel Gonzalez
1290 E Lake Rd S
$4,673,460
$1,589/SF
Building Size
2,940 SF
Asset Type
Retail
Closing
Jun 30, 2026
About this deal
AI
The property involved in the transaction is a retail asset located at 1290 East Lake Road S in the Tarpon Springs market. The sale was concluded for $4,673,460, encompassing a total square footage of 2,940, resulting in a price per square foot of $1,589.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,673,460
- Square Footage: 2,940
- Price Per Square Foot: $1,589
- Buyer: Thomas Mergner
- Seller: Kathy Shelling
- Brokers: Jake Lurie & Daniel Gonzalez - Matthews
- Date of Sale: 06/30/2026
Key individuals involved in the transaction include buyer Thomas Mergner and seller Kathy Shelling, with brokers Jake Lurie and Daniel Gonzalez representing the transaction through Matthews. Their involvement facilitated the negotiation and closure of the deal.
On the Map
$4,673,460
$1,589/SF
Retail
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Players
Tarpon Springs 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
3.39%
Cash-on-Cash
-0.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93