Extra Space Storage Acquires Self Storage Property In West Palm Beach For $29.2M
401 North Military Trail, West Palm Beach, Florida 33415, United States
$29,200,000
$251/SF
Building Size
116,076 SF
Asset Type
—
Closing
Jul 19, 2022
AI
The self storage facility located at 401 & 2300 North Military Trail in West Palm Beach has been sold for $29,200,000. The property spans over 116,076 square feet, with a price per square foot of $252. The transaction took place on 07/20/2022. The buyer, Joseph Margolis, represented Extra Space Storage, while InContext Advisors acted as the seller.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $29,200,000
- Date: 07/20/2022
- Address: 401 & 2300 North Military Trail, West Palm Beach
- Market: West Palm Beach
- Square Footage: 116,076
- Price per Square Foot: $252
- Buyer: Extra Space Storage - Joseph Margolis
- Seller: InContext Advisors
Joseph Margolis, representing Extra Space Storage, successfully acquired the self storage facility located at 401 & 2300 North Military Trail in West Palm Beach. InContext Advisors acted as the seller in this transaction, which took place on 07/20/2022. The property spans over 116,076 square feet and sold for a price of $29,200,000.
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
0.54%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93