Updated Oct 28, 2024
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
$10,700,000
$187/SF
Building Size
56,988 SF
Asset Type
Industrial
Closing
Mar 20, 2022
About this deal
AI
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.
Players
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
1.48%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93