Michael Saunders & Company Represents $17.5M Sarasota Single Family Sale On Hillview Drive
SOLD
$17,500,000
Florida
See Similar DealsSingle Family Residence12,000 SF
Sold 07/29/2022
SOLD
Michael Saunders & Company Represents $17.5M Sarasota Single Family Sale On Hillview Drive
1423 Hillview Drive, Sarasota, Florida 34239, United States
See Similar DealsSingle Family Residence12,000 SF
Sold 07/29/2022
Summary
FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1,458
Total Square Footage:12,000 SF
Transaction Type:Sale
Two single-family properties located at 1423 & 1435 Hillview Drive in Sarasota have been sold for a total of $17,500,000. The properties, situated on approximately 2 acres of land, feature a combined square footage of 12,000. The sale price translates to a price per square foot of $1,458.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $17,500,000
- Address: 1423 & 1435 Hillview Drive, Sarasota
- Market: Sarasota
- Asset Type: Single Family
- Acreage: 2 acres
The sale was facilitated through Linda Driggs and Kim Ogilvie of Michael Saunders & Company, who represented the buyer and the seller in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,173.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,958.93
Annual Debt Service$995,507.14
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