Updated Oct 25, 2024
Asi Cabessa Acquires Industrial Property In Margate For $10.75M
1801 Mears Pkwy, Margate, Florida 33063, United States
$10,750,000
$188/SF
Building Size
56,988 SF
Asset Type
Industrial
Closing
Mar 13, 2022
About this deal
AI
Located in Margate, the industrial property at 1801-2248 Mears Parkway has been sold in a recent transaction. The property spans approximately 56,988 square feet and is situated in a bustling market.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $10,750,000
- Square Footage: 56,988
- Price Per Square Foot: $189
- Address: 1801-2248 Mears Parkway, Margate
The buyer of the property is Asi Cabessa, while the seller is Rory McCarty. Leading the deal were brokers Tyler S. Kuhlman and Douglas K. Mandel from Marcus & Millichap, representing the respective parties.
On the Map
$10,750,000
$188/SF
Industrial
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Players
Margate Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.48%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93