Mindful Capital And Hersh Equity Group Acquire Industrial Property In Holly Hill For $6.5M
SOLD
$6,500,000
Florida
See Similar DealsIndustrial73,050 SF
Sold 12/29/2023
SOLD
Mindful Capital And Hersh Equity Group Acquire Industrial Property In Holly Hill For $6.5M
1516 State Avenue
See Similar DealsIndustrial73,050 SF
Sold 12/29/2023
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$89
Total Square Footage:73,050 SF
Transaction Type:Sale
The industrial property located at 1516 State Avenue in Holly Hill has been sold. The property spans 73,050 square feet and was sold for a total price of $6,500,000, resulting in a price per square foot of $89.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $6,500,000
- Address: 1516 State Avenue
- Market: Holly Hill
The buyers involved in the transaction were Mindful Capital represented by Pat Carney, Jeffrey Pechter, Juda Hersh, Corey Schwartz, and Hersh Equity Group represented by Juda Hersh and Corey Schwartz. The seller of the property was Patrik Franceschi. The buyers were represented by Michael Lewin and Adam Steinlauf from Katalyst Real Estate & Development.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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