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Aptos Management A Acquires Fairfax Industrial Park In Riviera Beach For $26.51M

Property Image
SOLD
$26,509,000

Florida

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Industrial125,452 SF
Sold 06/27/2025
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Property Image
SOLD

Aptos Management A Acquires Fairfax Industrial Park In Riviera Beach For $26.51M

1700 Avenue L

See Similar Deals
Industrial125,452 SF
Sold 06/27/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$211
Total Square Footage:125,452 SF
Transaction Type:Sale

The asset involved in this transaction is a 5-acre industrial property located at 1700 & 2060 Avenue L in the Riviera Beach market. The sale was finalized for a total amount of $26,509,000, which translates to $211 per square foot for the 125,452 square feet of space included in the deal.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $26,509,000
  • Address: 1700 & 2060 Avenue L
  • Market: Riviera Beach
  • Square Footage: 125,452
  • Price Per Square Foot: $211
  • Buyer: Aptos Management A
  • Seller: Benjamin Genet - Genet Property Group

Aptos Management A has acquired the property, paying over double its 2018 sale price. The transaction underscores significant investor interest in the area, with a notable 6.7% vacancy rate and increasing industrial rents in Palm Beach County, highlighted by the rising demand near the Port of Palm Beach.

Players

Benjamin Genet
Benjamin Genet
12 deals$185M volume
SELLER

Details

SOLD
IMAGE: Benjamin Genet DATE: 06/27/2025 ADDRESS: 1700 & 2060 Avenue L MARKET: Riviera Beach ASSET TYPE: Industrial ~ ACRES: 5 BUYER: Aptos Management A SELLER: Benjamin Genet - Genet Property Group SALE PRICE: $26,509,000 SF: 125,452 ~ PPSF: $211 NOTE: Aptos Management A paid $26.59 million for the 125,452 SF Fairfax Industrial Park in Riviera Beach, more than doubling its 2018 sale price. The $212 PSF deal reflects rising industrial rents in Palm Beach County amid a 6.7% vacancy rate and continued investor demand near the Port of Palm Beach.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,413,813.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$94,180.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$125,666.18
Annual Debt Service$1,507,994.21