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Masha Lodnia's Lodnia Group Acquires Development Site In Lake Worth For $3.6M

Property Image
SOLD
$3,600,000
Conner Peters
Sean Old
Mike Millard
+ 3

Florida

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Development Site2,063,425 SF
Sold 06/20/2022
the dealplayerscompscontact
Property Image
SOLD

Masha Lodnia's Lodnia Group Acquires Development Site In Lake Worth For $3.6M

3100 Jog Road, Lake Worth, Florida 33467, United States

See Similar Deals
Development Site2,063,425 SF
Sold 06/20/2022
Conner Peters
Sean Old
Mike Millard
+ 3
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$1
Total Square Footage:2,063,425 SF
Transaction Type:Sale

The Development Site located at 3100-3190 Jog Rd in Lake Worth, Palm Beach County, has been sold for a price of $3,600,000. The property spans over 4.67 acres and has a Building Square Footage (BSF) of 2,063,425. This translates to a price per Building Square Foot (PPBSF) of $2 and a price per Acre (PPA) of $770,877.94. The asset is zoned for commercial use.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $3,600,000
  • Address: 3100-3190 Jog Rd, Lake Worth, Palm Beach County
  • Market: Lake Worth
  • Zoning: Commercial

The buyer of the property is Masha Lodnia, represented by the Lodnia Group. The seller, on the other hand, is Norman Carnell, representing B'LO Corporation. Conner Peters from the Water Pointe Realty Group acted as the buyer's representative in this deal. The seller was represented by Michael Falk, Mike Millard, and Sean Old from Colliers International. The teams involved in the transaction are Colliers’ Falk Weprin Team and Colliers’ South Florida Land Services Team.

Players

Sean Old
SVN
Sean Old
3 deals$32.6M volume(561) 558-6363
BROKER
Mike Millard
Colliers
Mike Millard
3 deals$32.6M volume
BROKER
Michael Falk
Colliers
Michael Falk
11 deals$89.5M volume
BROKER
Conner Peters
Water Pointe Realty Group
Conner Peters
1 deal$3.6M volume
BROKER
ML
Masha Lodnia
2 deals$7.2M volume
BUYER
NC
Norman Carnell
2 deals$7.2M volume
SELLER

Details

SOLD
IMAGE: Michael Falk, Mike Millard, Sean Old & Conner Peters DATE: 06/20/2022 ADDRESS: 3100-3190 Jog Rd MARKET: Lake Worth ASSET TYPE: Development Site ~ ZONING: Commercial COUNTY: Palm Beach BUYER: Masha Lodnia - Lodnia Group SELLER: Norman Carnell - B'LO Corporation BUYER'S REP: Conner Peters (@ConnerPeters) – Water Pointe Realty Group SELLER'S REP: Michael Falk (@ColliersFalkweprinTeam), Mike Millard & Sean Old (@Sflandco) - Colliers International TEAMS: Colliers’ Falk Weprin Team (@colliersfalkweprinteam), and Colliers’ South Florida Land Services Team (@sflandco) SALE PRICE: $3,600,000 BSF: 2,063,425 ~ PPBSF: $2 Acres: 4.67 ~ PPA: $770,877.94

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

$192,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04