Pinnacle Announces Sale of Absolute Net Lease Investment
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of a 22,723 square foot retail space for an acquisition price of $7,100,000 located at 4200 Frontage Rd in Sebring, Florida. Elizabeth Morgan, Vice President, Cody Stambaugh, Senior Advisor, and Natalie Dupree, Associate Advisor, represented the buyer in the transaction.
“The acquisition of the Sunoco in Sebring, FL is a classic example of how to take advantage of a 1031 Exchange. We assisted the buyer in purchasing a 7 Eleven in Richmond, VA for a 5.2% cap rate, sold the 7 Eleven two years later for a 4.6% cap rate and reinvested the funds through a 1031 Exchange into the 6% cap rate Sunoco in Sebring, FL. The exchange increased the investors passive income by 25% and extended the term of the Absolute Net Lease investment. This is a win for the buyer and satisfying to secure long term passive income for him and his family,” stated Liz Morgan with The Morgan Stambaugh Group.