ODAN Capital Acquires Industrial Property In Lake Worth For $4.025M From Seller Jarred Elmar, Marcus & Millichap Brokers
SOLD
Florida
See Similar DealsIndustrial21,000 SF
Sold 01/26/2023
SOLD
ODAN Capital Acquires Industrial Property In Lake Worth For $4.025M From Seller Jarred Elmar, Marcus & Millichap Brokers
1821 7th Avenue North
See Similar DealsIndustrial21,000 SF
Sold 01/26/2023
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$191
Total Square Footage:21,000 SF
Transaction Type:Sale
Located at 1821-1841 7th Avenue North in Lake Worth, this industrial property was recently sold in a closed transaction. The property spans 21,035 square feet and was sold at a price of $4,025,000, resulting in a price per square foot of $191.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,025,000
- Address: 1821-1841 7th Avenue North
- Market: Lake Worth
ODAN Capital, represented by Dan Abrahams, acquired the property from seller Jarred Elmar. The deal was facilitated by brokers Zach Levine, Tyler Kuhlman, and Douglas (Doug) Mandel from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$214,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,299.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,080.55
Annual Debt Service$228,966.64
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