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Basis Industrial Acquires Development Site In Melbourne, FL For $1.5M

Property Image
SOLD
$1,500,000
Anthony Scavo
Daniel Weinstein
FJ

Florida

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Development Site128,502 SF
Sold 11/23/2022
the dealplayerscompscontact
Property Image
SOLD

Basis Industrial Acquires Development Site In Melbourne, FL For $1.5M

2480 Aurora Rd, Melbourne, FL 32935, USA

See Similar Deals
Development Site128,502 SF
Sold 11/23/2022
Anthony Scavo
Daniel Weinstein
FJ
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$11
Total Square Footage:128,502 SF
Transaction Type:Sale

The development site located at 2480 Aurora Rd in Space Coast, Melbourne, FL has been sold in a recent transaction. The property, measuring 128,502 square feet, was acquired by Basis Industrial, represented by Daniel Weinstein & Anthony Scavo. The seller of the site was Fred Boozer Jr. The sale price for the transaction amounted to $1,500,000, resulting in a price per buildable square foot (PPBSF) of $12.

Summary of transation details

Basis Industrial, the buyer, has plans to develop a 3-story Class A Self-Storage facility on the acquired development site. The total development costs for this project are expected to be $18,000,000.

Players

Basis Industrial
Basis Industrial
BROKERAGE
Anthony Scavo
Basis Industrial
Anthony Scavo
44 deals$1.3B volume
BUYER
Daniel Weinstein
Basis Industrial
Daniel Weinstein
7 deals$195.1M volume
BUYER
FJ
Fred Boozer Jr.
3 deals$71.5M volume
SELLER

Details

SOLD
IMAGE: Daniel Weinstein & Anthony Scavo DATE: 11/23/2022 ADDRESS: 2480 Aurora Rd MARKET: Space Coast, Melbourne, FL ASSET TYPE: Development Site BUYER: Basis Industrial - Daniel Weinstein & Anthony Scavo (@AnthonyScavoJr) SELLER: Fred Boozer Jr. BROKER: Ken Hobson - Marcus & Millichap SALE PRICE: $1,500,000 BSF: 128,502 ~ PPBSF: $12 NOTE FROM BUYER: Basis Industrial is developing a 3-story Class A Self-Storage facility. Total Development Costs of $18,000,000

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Debt Service Coverage Ratio (DSCR)

0.94x

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Cash Flow (Annual)-$5,329.19
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