Clarion Partners Acquires Self Storage Property In Fort Lauderdale For $22.9M
SOLD
$22,910,000
Florida
See Similar Deals67,872 SF
Sold 08/15/2022
SOLD
Clarion Partners Acquires Self Storage Property In Fort Lauderdale For $22.9M
1217 Southwest 1st Avenue, Fort Lauderdale, Florida 33315, United States
See Similar Deals67,872 SF
Sold 08/15/2022
Summary
FLORIDA
Price Per Square Foot:$337
Total Square Footage:67,872 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,221,866.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$81,394.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$108,605.09
Annual Debt Service$1,303,261.06
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