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4720 West Spruce Street, Ta...

Bruce H. Qvale Acquires Retail Property In Westshore, Tampa For $44.5M
SOLDRetail

Bruce H. Qvale Acquires Retail Property In Westshore, Tampa For $44.5M

4720 West Spruce Street, Tampa, Florida 33607, United States

$44,511,288

$664/SF

Building Size

67,019 SF

Asset Type

Retail

Closing

Apr 19, 2022

AI

A retail property located at 4720 W Spruce St in Westshore, Tampa, has been sold in a recent transaction. The property spans 67,019 square feet and was sold at a price of $44,511,288, resulting in a price per square foot of $664. The sale took place on April 20, 2022.

Summary of transaction details

  • Property Type: Retail
  • Sale Price: $44,511,288
  • Square Footage: 67,019
  • Price per Square Foot: $664
  • Address: 4720 W Spruce St, Westshore, Tampa
  • Market: Westshore, Tampa

The buyer of the property is Bruce H. Qvale, while the seller is Saber Real Estate Advisors and ARC Trust, represented by Michael Klinger. The buyer was represented by Don LeBuhn from Cushman & Wakefield, while Greg Matus and Adam J. Tiktin from Franklin Street represented the seller.

Players

Adam Tiktin

Franklin Street

Broker

$261.4M

vol

20 deals

Broker

Bruce Qvale

Buyer

$50.5M

vol

2 deals

Buyer
Saber Real Estate Advisors
Saber Real Estate AdvisorsSeller

Tampa Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.36%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93