Aldi Real Estate Purchases Industrial Property In Lake Park For $1.6M
SOLD
$1,600,000
Florida
See Similar DealsIndustrial8,500 SF
Sold 06/28/2024
SOLD
Aldi Real Estate Purchases Industrial Property In Lake Park For $1.6M
1330 South Killian Drive
See Similar DealsIndustrial8,500 SF
Sold 06/28/2024
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$188
Total Square Footage:8,500 SF
Transaction Type:Sale
The industrial property located at 1330 South Killian Drive in Lake Park was sold for $1,600,000. The asset spans 8,500 square feet, resulting in a price per square foot of $188. The transaction took place on June 28, 2024, with Aldi Real Estate acquiring the property from Brian & Darren O’Brien.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,600,000
- Buyer: Aldi Real Estate
- Seller: Brian & Darren O’Brien
- Brokers: Douglas Mandel, Zach Levine & Joshua Gilbert - Marcus & Millichap
Douglas Mandel, Zach Levine, and Joshua Gilbert from Marcus & Millichap facilitated the sale of the industrial property. Aldi Real Estate emerged as the buyer, while Brian & Darren O’Brien were the sellers in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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