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Industrial Outdoor Ventures Acquires Wilmington Industrial Property For $9M

Property Image
SOLD
$9,000,000
Roy Harel

California

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Industrial47 SF
Sold
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Property Image
SOLD

Industrial Outdoor Ventures Acquires Wilmington Industrial Property For $9M

302 Lakme Ave, Wilmington, CA 90744, USA

See Similar Deals
Industrial47 SF
Sold
Roy Harel
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$191489
Total Square Footage:47 SF
Transaction Type:Sale

The industrial property located at 302 Lakme Ave in Wilmington, CA was recently sold in a transaction facilitated by Industrial Outdoor Ventures (IOV). The property spans a total of 47,500 square feet, with a sale price of $9,000,000, resulting in a price per square foot of $189. The transaction took place on 12/01/2022.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $9,000,000
  • Address: 302 Lakme Ave, Wilmington, CA
  • Market: Wilmington, CA
  • Buyer: Industrial Outdoor Ventures (IOV) - Benjamin Backer
  • Seller: Susan Shimmin
  • Buyer's Representative: Roy Harel & Jonathan Lee - Nublock Partners
  • Lot Size: 47,500 sq ft
  • Price per Square Foot: $189

The sale of this industrial property was completed with the assistance of Roy Harel and Jonathan Lee from Nublock Partners, who represented the buyer, Industrial Outdoor Ventures (IOV). Susan Shimmin acted as the seller in this transaction.

Players

Roy Harel
19 deals$431.1M volume
BROKER

Jonathan Lee
8 deals$142.1M volume
BROKER

BUYER

2 deals$18M volume
SELLER

Details

SOLD
IMAGE: Roy Harel, Jonathan Lee & Benjamin Backer DATE: 12/01/2022 ADDRESS: 302 Lakme Ave MARKET: Wilmington, CA ASSET TYPE: Industrial BUYER: Industrial Outdoor Ventures (IOV) - Benjamin Backer (@BenBacker) SELLER: Susan Shimmin BUYER'S REP: Roy Harel (@RoyHarel310) & Jonathan Lee (@Simpleejonathan)- Nublock Partners (@Nublock_Partners) SALE PRICE: $9,000,000 LOT SF: 47,500 ~ PPLSF: $189

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10