EML Realty Partners Acquires Industrial Property In Palm Bay For $12.5M
SOLD
$12,500,000
Florida
See Similar DealsIndustrial130,000 SF
Sold 03/02/2022
SOLD
EML Realty Partners Acquires Industrial Property In Palm Bay For $12.5M
1700 Main Street Northeast, Palm Bay, Florida 32905, United States
See Similar DealsIndustrial130,000 SF
Sold 03/02/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$96
Total Square Footage:130,000 SF
Transaction Type:Sale
The industrial property located at 1700-1720 Main St. NE in Palm Bay has been sold for $12,500,000. The property spans over 15 acres and offers 130,000 square feet of space. The sale price per square foot was $96.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $12,500,000
- Address: 1700-1720 Main St. NE
- Market: Palm Bay
- Acres: 15
- Square Feet: 130,000
- Price per Square Foot: $96
The buyer of the property was EML Realty Partners, represented by Eric Levitt and The Becker Organization.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,409.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,256.38
Annual Debt Service$711,076.53
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