Ramin Youness Acquires Industrial Asset In Lake Worth For $4M
2602 Kelly Lane, Lake Worth Beach, Florida 33460, United States
$4,000,000
$235/SF
Building Size
17,000 SF
Asset Type
Industrial
Closing
May 31, 2022
AI
The property involved in this transaction is a newly renovated warehouse located at 2602 Kelly Ln in Lake Worth. It spans 17,000 square feet and is situated just 10 minutes south of Palm Beach. The property is an industrial asset, making it suitable for various industrial needs in South Florida.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,000,000
- Square Footage: 17,000
- Price Per Square Foot: $235
- Address: 2602 Kelly Ln
- Market: Lake Worth
Ramin Youness was the buyer in this transaction, while Bob Patrella acted as the seller. Shanna Naim, from NDA Realty, represented the buyer as their broker. It is worth noting that Shanna Naim also represented the owner-user in this deal.
If you have any industrial needs in South Florida, you can contact Shanna Naim at [email protected] or by phone at (305) 417-9415.
Players
Lake Worth Beach 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93