Matthew Prozzillo & Ben Skinner Of Marcus & Millichap Sell Student Housing In Tallahassee For $5.7M
1824 Greentree Lane, Tallahassee, Florida 32304, United States
$5,721,500
Building Size
—
Asset Type
—
Closing
Jan 25, 2023
About this deal
AI
Located at 1824 Greentree Lane in Tallahassee, this student housing property spans over 2.21 acres. The transaction for this property took place on 01/25/2023, with a sale price of $5,721,500. The property consists of 78 beds, resulting in a price per bed of $73,353.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $5,721,500
- Beds: 78
- Price Per Bed: $73,353
Represented by Matthew Prozzillo and Ben Skinner from Marcus & Millichap, this deal showcases their expertise in the market. Their involvement as brokers demonstrates their commitment to facilitating successful transactions in the Tallahassee area.
Players
Tallahassee 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
2.77%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93