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1824 Greentree Lane, Tallah...

Matthew Prozzillo & Ben Skinner Of Marcus & Millichap Sell Student Housing In Tallahassee For $5.7M
SOLD

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

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

Matthew Prozzillo

Marcus & Millichap

Broker

$71.9M

vol

14 deals

Broker

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