Seagate Development Sells Fort Myers Industrial Property For $8.1M
SOLD
$8,100,000
Florida
See Similar DealsIndustrial53,000 SF
Sold 01/22/2022
SOLD
Seagate Development Sells Fort Myers Industrial Property For $8.1M
14550 Global Parkway, Fort Myers, Florida 33913, United States
See Similar DealsIndustrial53,000 SF
Sold 01/22/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$152
Total Square Footage:53,000 SF
Transaction Type:Sale
The industrial property located at 14550 Global Parkway in Fort Myers has been sold for a total price of $8,100,000. This property, with a size of 53,000 square feet, was sold by Seagate Development Group, represented by Matt Price. The buyer's representative in this transaction was Derek Bornhorst from Lee & Associates. The seller was represented by SW Management & Realty, LLC.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $8,100,000
- Address: 14550 Global Parkway, Fort Myers
- Square Footage: 53,000
Matt Price, from Seagate Development Group, played a key role as the seller in this transaction. On the other hand, Derek Bornhorst, representing Lee & Associates, served as the buyer's representative. Their expertise and involvement were crucial in ensuring the successful completion of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$432,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,777.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,398.13
Annual Debt Service$460,777.59
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