CTS Engines Acquires Jet Engine Testing Facility In Jupiter For $16M
SOLD
$16,000,000
+ 1
Florida
See Similar DealsIndustrial4,125 SF
Sold 06/01/2022
SOLD
CTS Engines Acquires Jet Engine Testing Facility In Jupiter For $16M
18855 Bee Line Highway, Jupiter, Florida 33478, United States
See Similar DealsIndustrial4,125 SF
Sold 06/01/2022
+ 1
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$3,878
Total Square Footage:4,125 SF
Transaction Type:Sale
The Jet Engine Testing Facility located at 18855 Bee Line Highway in Jupiter has been sold for a total price of $16,000,000. The special purpose property spans over 7,000 square feet, resulting in a price per square foot of $2,286. The transaction took place on June 1, 2022.
Summary of transation details
- Property Type: Special Purpose
- Transaction Amount: $16,000,000
- Address: 18855 Bee Line Highway
- Market: Jupiter
- Buyer: CTS Engines
- Seller: Brian Neff
- Seller's Representative: Mark M. Rubin, Bastian Laggerbauer, and Steven Wasserman from Colliers International
The buyer of the property is CTS Engines, and the seller is Brian Neff. Mark M. Rubin, Bastian Laggerbauer, and Steven Wasserman from Colliers International represented the seller in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95
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