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3650 Gene Mische Way, Welli...

Updated Oct 28, 2024

Wellington Showgrounds 1 LLC Acquires 13.56 Acres Of Land In Wellington For $15.5M
SOLD

Wellington Showgrounds 1 LLC Acquires 13.56 Acres Of Land In Wellington For $15.5M

3650 Gene Mische Way, Wellington, FL 33414, USA

$15,500,000

Building Size

Asset Type

Closing

Mar 23, 2022

About this deal

AI

3650 & 3780 Gene Mische Way, located in Wellington, was recently sold for a price of $15,500,000. The property is a land asset, spanning approximately 13.56 acres. The transaction took place on 03/24/2022. Howard Dvorkin was the seller in this deal, while the buyer was Wellington Showgrounds 1 LLC, represented by Rusty Heiser as their broker.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $15,500,000
  • Address: 3650 & 3780 Gene Mische Way
  • Market: Wellington
  • Acres: 13.56

Rusty Heiser, from Wellington Showgrounds 1 LLC, played a crucial role as the buyer's representative in this transaction. This sale marks a significant change in ownership for the property, indicating a promising investment opportunity in Wellington.

Players

West Palm Beach 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

1.02%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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