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This project has reached its funding target
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Central Plaza Shopping Center

  • Saglo Development Corporation
  • Icn offering location St. Petersburg, FL

Prominent shopping center in a high-traffic location in St. Petersburg, Florida

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  • Icn funding type
  • Icn funding meta
  • Posting
  • Equity
  • Total Raise: $3,200,000
  • Min. Investment: $25,000
  • Expected Hold Period: 10 years
  • Property Type: Retail
  • Est. Investor IRR: 13.4%
  • Est. Cash-on-Cash: 10%
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The Property was purchased for $7,265,000 ($99 Per Sq. Ft. which is well below replacement value.)
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The Property was financed at a Loan To Value (LTV) ratio below 65% and very attractive fixed interest rate of 3.75% for initial five years of the loan. Fixed interest rate option during years six through ten is capped at 5.75%.
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Tenants include Family Dollar, Goodwill, CitiTrends, Foot Locker, Payless Shoes, Ferguson and Rainbow Kids. Majority of tenants are national tenants who have operated at the property for many years.