Hornig Capital Acquires Industrial Property In Fort Myers For $8.75M
SOLD
$8,750,000
Florida
See Similar DealsIndustrial68,000 SF
Sold 01/31/2023
SOLD
Hornig Capital Acquires Industrial Property In Fort Myers For $8.75M
16710 Gator Road
See Similar DealsIndustrial68,000 SF
Sold 01/31/2023
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$128
Total Square Footage:68,000 SF
Transaction Type:Sale
An industrial property located at 16710 Gator Road in Fort Myers has been sold for a price of $8,750,000. The property spans approximately 68,000 square feet, resulting in a price per square foot of $129. The transaction took place on January 31, 2023. The buyer for this deal was Hornig Capital, while the seller was Fusion Industries. The brokers involved in the transaction were Dan Shapiro and Matthew Giraldi from KSR.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $8,750,000
- Square Footage: 68,000
- Price per Square Foot: $129
- Address: 16710 Gator Road, Fort Myers
- Market: Fort Myers
Dan Shapiro and Matthew Giraldi, representing KSR, played a key role in facilitating the transaction between Hornig Capital and Fusion Industries. Their expertise and negotiation skills ensured a successful deal for both parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$466,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,086.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,479.46
Annual Debt Service$497,753.57
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