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Developers Realty Inc Acquires SFR In Longboat Key For $13M With Buyer's Rep Reid Murphy

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SOLD
$13,000,001

Florida

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Single Family Residence7,174 SF
Sold
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SOLD

Developers Realty Inc Acquires SFR In Longboat Key For $13M With Buyer's Rep Reid Murphy

6021 Gulf of Mexico Drive, Longboat Key, FL, USA

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Single Family Residence7,174 SF
Sold
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$1812
Total Square Footage:7174 SF
Transaction Type:Sale

Located at 6021 Gulf of Mexico Dr in Longboat Key, this single-family residential property was recently sold on 07/07/2020. The property spans a total of 7,174 square feet and is situated in a prime location along the Gulf of Mexico. With a sale price of $13,000,001, the property was sold at a rate of $1,812 per square foot, indicating its value in the market.

Summary of transaction details:

  • Property Type: SFR
  • Transaction Amount: $13,000,001
  • Address: 6021 Gulf of Mexico Dr
  • Market: Longboat Key
  • Size: 7,174 square feet

This transaction was facilitated by two brokers, Reid Murphy from Developers Realty Inc and Kim Ogilvie from Michael Saunders & Company. Their expertise and representation were instrumental in ensuring a successful deal for all parties involved.

Players

Kim Ogilvie
4 deals$51.7M volume
BROKER

Reid Murphy
3 deals$43.3M volume
BROKER

Details

SOLD
IMAGE: Reid Murphy & Kim Ogilvie DATE: 07/07/2020 ADDRESS: 6021 Gulf of Mexico Dr MARKET: Longboat Key ASSET TYPE: SFR PRICE: $13,000,001 SF: 7,174 PPSF: $1,812 BROKERS: Reid Murphy - Developers Realty Inc, Kim Ogilvie - Michael Saunders & Company

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

$693,333.39

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$46,186.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.64
Annual Debt Service$739,519.64