David Heil's State Storage Group Acquires Self Storage In Haverhill & Lake Worth For $32.5M
SOLD
$32,500,000
Florida
See Similar Deals143,000 SF
Sold 08/25/2022
SOLD
David Heil's State Storage Group Acquires Self Storage In Haverhill & Lake Worth For $32.5M
500 Haverhill Road, Haverhill, Florida 33415, United States
See Similar Deals143,000 SF
Sold 08/25/2022
Summary
FLORIDA
Price Per Square Foot:$227
Total Square Footage:143,000 SF
Transaction Type:Sale
The self storage property located at 500 North Haverhill Road & 900 Barnett Drive in Haverhill & Lake Worth has been sold for a price of $32,500,000. The property spans 143,000 square feet, making the price per square foot $227. The transaction took place on August 25, 2022.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $32,500,000
- Address: 500 North Haverhill Road & 900 Barnett Drive
- Market: Haverhill & Lake Worth
The buyer in this transaction was David Heil, representing the State Storage Group. The seller was Alpine Storage. amerant''>Amerant Bank and Renasant Bank provided the financing for the sale of the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,733,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$115,465.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$154,066.58
Annual Debt Service$1,848,798.97
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