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Dalfen Industrial Acquires Industrial Property In Riviera Beach For $18.35M

Property Image
SOLD
$18,350,000
Robert Smith
Kirk Nelson
Jeffrey Kelly
+ 1

Florida

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Industrial1,508,520 SF
Sold 06/11/2020
the dealplayerscompscontact
Property Image
SOLD

Dalfen Industrial Acquires Industrial Property In Riviera Beach For $18.35M

1177 W Blue Heron Blvd, Riviera Beach, FL 33404, USA

See Similar Deals
Industrial1,508,520 SF
Sold 06/11/2020
Robert Smith
Kirk Nelson
Jeffrey Kelly
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$12
Total Square Footage:1,508,520 SF
Transaction Type:Sale

The industrial property located at 1177 West Blue Heron Blvd in Riviera Beach has been sold for a price of $18,350,000. The property spans across 150,852 square feet, resulting in a price per square foot of $121.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $18,350,000
  • Property Address: 1177 West Blue Heron Blvd
  • Market: Riviera Beach
  • Size: 150,852 sqft
  • Price per Square Foot: $121

The buyer of the property is Dalfen Industrial represented by Murray Dalfen. The seller in this transaction is Stateside Capital Group, with Norman Weinstein as their representative. The deal was facilitated by the brokers Robert Smith, Kirk Nelson, and Jeffrey Kelly from CBRE.

Players

Jeffrey Kelly
CBRE
Jeffrey Kelly
8 deals$47.5M volume(561) 393-1621
BROKER
Kirk Nelson
CBRE
Kirk Nelson
15 deals$142.7M volume(561) 227-1803
BROKER
Robert Smith
CBRE
Robert Smith
17 deals$480M volume
BROKER
MD
Dalfen Industrial
Murray Dalfen
4 deals$92.8M volume
BUYER

Details

SOLD
IMAGE: Murray Dalfen, Robert Smith & Jeffrey Kelly DATE: 06/11/2020 ADDRESS: 1177 West Blue Heron Blvd MARKET: Riviera Beach ASSET TYPE: Industrial PRICE: $18,350,000 SF: 150,852 PPSF: $121 BUYER: Dalfen Industrial – Murray Dalfen SELLER: Stateside Capital Group – Norman Weinstein BROKERS: Robert Smith, Kirk Nelson & Jeffrey Kelly – CBRE

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

$978,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$65,193.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,988.36
Annual Debt Service$1,043,860.34