Hanover Capital Partners Acquires St. Cloud Industrial Property For $11.05M
SOLD
$11,050,000
Florida
See Similar DealsIndustrial63,199 SF
Sold 04/28/2022
SOLD
Hanover Capital Partners Acquires St. Cloud Industrial Property For $11.05M
2004 Jaffa Drive, Saint Cloud, Florida 34771, United States
See Similar DealsIndustrial63,199 SF
Sold 04/28/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$174
Total Square Footage:63,199 SF
Transaction Type:Sale
The industrial property located at 2004 – 2008 & 2012-2014 Jaffa Dr in St. Cloud has been sold. The transaction took place on April 28, 2022.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $11,050,000
- Square Footage: 63,199
- Price per Square Foot: $175
- Market: St. Cloud
The buyer of the property was Hanover Capital Partners, while Bayshore Investment Partners acted as the seller. The sale was facilitated by the brokers Luis Castillo & Cody Brais from JLL.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$589,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,258.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,382.64
Annual Debt Service$628,591.65
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