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1849 Southwest South Macedo...

Snapbox Self Storage & First Neck Self Storage Acquire Industrial Property In Port St. Lucie For $7.2M
SOLDIndustrial

Snapbox Self Storage & First Neck Self Storage Acquire Industrial Property In Port St. Lucie For $7.2M

1849 Southwest South Macedo Boulevard, Port St. Lucie, FL, USA

$7,200,000

$104/SF

Building Size

69,219 SF

Asset Type

Industrial

Closing

Apr 14, 2020

AI

An industrial property located at 1849 SW South Macedo Blvd in Port St. Lucie has been sold in a closed transaction. The property, measuring 69,219 square feet, was sold for a price of $7,200,000, resulting in a price per square foot of $104. The transaction took place on April 15, 2020.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $7,200,000
  • Address: 1849 SW South Macedo Blvd
  • Market: Port St. Lucie
  • Square Footage: 69,219

The buyer of the property was Snapbox Self Storage & First Neck Self Storage, while the seller was American Personal Storage. Luke Elliott and Mike Mele from Cushman & Wakefield represented both parties as brokers in this deal.

Players

Michael Mele

Cushman & Wakefield

Broker

$232.3M

vol

15 deals

Broker
SS
Snapbox Self StorageBuyer
AS
American Personal StorageSeller

Port Saint Lucie 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

2.20%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93