David Heil's State Storage Group Acquires Self Storage In Haverhill & Lake Worth For $32.5M
500 Haverhill Road, Haverhill, Florida 33415, United States
$32,500,000
$227/SF
Building Size
143,000 SF
Asset Type
—
Closing
Aug 24, 2022
About this deal
AI
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.
Players
Haverhill CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93