Matthew Prozzillo & Ben Skinner Of Marcus & Millichap Sell Student Housing In Tallahassee For $5.7M
SOLD
$5,721,500
Florida
See Similar DealsSold 01/25/2023
SOLD
Matthew Prozzillo & Ben Skinner Of Marcus & Millichap Sell Student Housing In Tallahassee For $5.7M
1824 Greentree Lane, Tallahassee, Florida 32304, United States
See Similar DealsSold 01/25/2023
Summary
FLORIDA
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$305,146.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,327.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,122.83
Annual Debt Service$325,473.95
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