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1217 Southwest 1st Avenue, ...

Clarion Partners Acquires Self Storage Property In Fort Lauderdale For $22.9M
SOLD

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

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

David Gilbert

Clarion Partners

Buyer

$2.4B

vol

32 deals

Buyer
AC
Ackerman & Co.Seller

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