Prime Group Holdings Acquires Self Storage In Lake Park For $10.68M
SOLD
$10,680,000
Florida
See Similar Deals100,800 SF
Sold 08/19/2020
SOLD
Prime Group Holdings Acquires Self Storage In Lake Park For $10.68M
210 N Congress Ave, Lake Park, FL, USA
See Similar Deals100,800 SF
Sold 08/19/2020
Summary
FLORIDA
Price Per Square Foot:$106
Total Square Footage:100,800 SF
Transaction Type:Sale
The self-storage property located at 210 N Congress Ave in Lake Park has been sold for a price of $10,680,000. The property spans 100,800 square feet and is situated on 2.7 acres. The sale price per square foot was $106, while the price per acre amounted to $3,955,556.
Summary of Transation Details
- Property Type: Self Storage
- Transaction Amount: $10,680,000
- Address: 210 N Congress Ave
- Market: Lake Park
Prime Group Holdings, represented by Robert Moser, acquired the property. The seller, Merchants Retail Partners, was represented by William A. Leitner III.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$569,599.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,943.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,628.65
Annual Debt Service$607,543.78
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