Updated Dec 21, 2023
John Rock Acquires Industrial Property In Margate For $2.9M
214 Margate Court, Margate, Florida 33063, United States
$2,900,000
$170/SF
Building Size
17,000 SF
Asset Type
Industrial
Closing
May 12, 2022
About this deal
AI
Located at 214 Margate Ct in Margate, this industrial property was recently sold in a transaction facilitated by Tomas Sulichin from RelatedISG International Realty. The property spans approximately 17,000 square feet and was sold for a total price of $2,900,000, resulting in a price per square foot of $171.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,900,000
- Address: 214 Margate Ct, Margate
- Market: Margate
- Buyer: John Rock
- Seller: Angel Maestre
- Broker: Tomas Sulichin - RelatedISG International Realty
This successful transaction was completed on 05/13/2022 and showcases the strong demand for industrial properties in the Margate market. Both the buyer, John Rock, and the seller, Angel Maestre, can be credited for their roles in the deal. Tomas Sulichin from RelatedISG International Realty represented the parties involved as the broker.
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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93