CTO Realty Growth Acquires Office Building In Tampa For $26.9M
3620 Queen Palm Dr, Tampa, Fl 33619, Usa
$26,900,000
$22/SF
Building Size
1,200,000 SF
Asset Type
Office
Closing
Aug 24, 2020
About this deal
AI
The office property located at 3620 Queen Palm Drive in Tampa was recently sold in a closed transaction. The property spans a total area of 120,000 square feet and was sold for a price of $26,900,000, resulting in a price per square foot of $224. The transaction took place on August 25, 2020.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $26,900,000
- Address: 3620 Queen Palm Drive
- Market: Tampa
The seller of the property was Pacer Partners, while the buyer was CTO Realty Growth represented by John Albright.
Players
Tampa Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93