Prime Group Holdings Acquires Self Storage In Lake Park For $10.68M
210 N Congress Ave, Lake Park, FL, USA
$10,680,000
$106/SF
Building Size
100,800 SF
Asset Type
—
Closing
Aug 19, 2020
AI
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.
Players
Lake Park 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
1.49%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93