Clarion Partners Acquires Self Storage Property In Fort Lauderdale For $22.9M
1217 Southwest 1st Avenue, Fort Lauderdale, Florida 33315, United States
$22,910,000
$337/SF
Building Size
67,872 SF
Asset Type
—
Closing
Aug 14, 2022
About this deal
AI
The self storage facility located at 1217 SW First Ave in Fort Lauderdale has been sold in a recent transaction. The property spans 67,872 square feet, with a price per square foot of $338. The sale price for the asset was $22,910,000.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $22,910,000
- Address: 1217 SW First Ave, Fort Lauderdale
- Market: Fort Lauderdale
Clarion Partners, represented by David Gilbert, acquired the property. On the other side, Ackerman & Co. and CLPF BH acted as the sellers. The deal was finalized on 08/15/2022.
Players
Fort Lauderdale CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93