Cabessa Real Estate & Investments Acquires Margate Industrial Property For $10.7M With Buyer's Rep Tyler Kuhlman & Douglas Mandel
SOLD
$10,700,000
Florida
See Similar DealsIndustrial56,988 SF
Sold
SOLD
Cabessa Real Estate & Investments Acquires Margate Industrial Property For $10.7M With Buyer's Rep Tyler Kuhlman & Douglas Mandel
2200 Northwest 19th Street, Margate, Florida 33063, United States
See Similar DealsIndustrial56,988 SF
Sold
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$187
Total Square Footage:56988 SF
Transaction Type:Sale
An industrial property located at 2200-2248 Mears Parkway in Margate has been sold for a price of $10,700,000. The property spans across 5 acres and has a total square footage of 56,988. It is situated in a market known for its industrial properties.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $10,700,000
- Address: 2200-2248 Mears Parkway, Margate
- Market: Margate
- Asset Type: Industrial
- Acres: 5
The buyer of the property is Asi Cabessa from Cabessa Real Estate & Investments, along with Edward Cohen Habaz. The seller of the property is Michael McCarty and Rory McCarty from RRK Properties. The transaction was facilitated by brokers Tyler Kuhlman and Douglas Mandel from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$570,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,014.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,723.46
Annual Debt Service$608,681.51
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