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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Deal FAQ
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