Carrera Family Investments Acquires Retail Property In Lakeland For $7.1M
4000 US Hwy 98 N
Building Size
—
Asset Type
—
Closing
Jul 28, 2022
AI
Carrera Family Investments, Inc, represented by Jose Carrera, has acquired a retail property located at 4000 US Hwy 98 N in Lakeland. The property spans approximately 44,321 square feet and was sold by Lakeland Retail, LLC, with Steve Wathen acting as the seller. The transaction took place for a total price of $7,125,000, resulting in a price per square foot of $161.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,125,000
- Address: 4000 US Hwy 98 N, Lakeland
- Buyer: Carrera Family Investments, Inc - Jose Carrera
- Seller: Lakeland Retail, LLC - Steve Wathen
- Seller's Representative: Anthony Bernabe & Jordan Characo - Equity
- Square Footage: 44,321
- Price per Square Foot: $161
Anthony Bernabe and Jordan Characo from Equity represented the seller in this transaction.
Players
Market CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93