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Bradford Marine Acquires Roscioli Yachting Center In $44.27M Deal

Property Image
SOLD
$44,270,000

Florida

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Commercial445,780 SF
Sold 10/03/2023
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Property Image
SOLD

Bradford Marine Acquires Roscioli Yachting Center In $44.27M Deal

3201 Marina Mile Boulevard & 3225 Marina Mile Boulevard

See Similar Deals
Commercial445,780 SF
Sold 10/03/2023
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Commercial
Price Per Square Foot:$99
Total Square Footage:445,780 SF
Transaction Type:Sale

The property asset involved in the transaction is a commercial real estate located at 3201-3225 West State Road 84 in Fort Lauderdale, comprising 12.1 acres. The sale price of the property was $44,270,000, with a total square footage of 222,890, resulting in a price per square foot of $199.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: $44,270,000
  • Address: 3201-3225 West State Road 84
  • Market: Fort Lauderdale
  • Acres: 12.1
  • Square Footage: 222,890
  • Price Per Square Foot: $199
  • Buyer: Bradford Marine - Michael Kelly & John Kelly
  • Seller: OneWater Marine - Austin Singleton
  • Lender: BankUnited

Bradford Marine's acquisition of the Roscioli Yachting Center involved key figures including Michael Kelly and John Kelly representing the buyer, and Austin Singleton representing the seller. This deal resulted in the addition of 40 new employees to Bradford Marine's operations as they expand their marine facilities in Fort Lauderdale.

Players

MK
Michael Kelly
2 deals$63.3M volume
BUYER
MK
Michael Kelly
2 deals$63.3M volume
BUYER
MK
Michael Kelly
2 deals$63.3M volume
BUYER
Bank United
Bank United
LENDER

Details

SOLD
IMAGE: Michael Kelly & Austin Singleton DATE: 10/03/2023 ADDRESS: 3201-3225 West State Road 84 MARKET: Fort Lauderdale ASSET TYPE: Commercial ~ ACRES: 12.1 BUYER: Bradford Marine (@Bradford.Marine) - Michael Kelly & John Kelly SELLER: OneWater Marine - Austin Singleton LENDER: BankUnited (@BankUnited.Official) SALE PRICE: $44,270,000 SF: 222,890 ~ PPSF: $199 NOTE: Bradford Marine, based in Fort Lauderdale, has acquired the Roscioli Yachting Center for $44.27 million. This strategic move expands their marine facilities and team, with 40 new employees joining, as part of their ongoing growth in the Fort Lauderdale marine industry.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,361,066.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$157,281.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$209,862.39
Annual Debt Service$2,518,348.63