Charles Raitan Acquires Industrial Asset In Boca Raton For $2.5 Million With Noah Ohayon As Buyer's Rep
SOLD
$2,500,000
Florida
See Similar DealsIndustrial43,560 SF
Sold 11/25/2024
SOLD
Charles Raitan Acquires Industrial Asset In Boca Raton For $2.5 Million With Noah Ohayon As Buyer's Rep
2631 Northwest 1st Avenue
See Similar DealsIndustrial43,560 SF
Sold 11/25/2024
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$57
Total Square Footage:43,560 SF
Transaction Type:Sale
The property asset involved in this transaction is an industrial asset located at 2631 Northwest 1st Avenue in Boca Raton. The transaction concluded at a sale price of $2,500,000 for a total of 43,560 square feet, translating to a price per square foot of $57. This asset is situated on a 1-acre lot and will be utilized as a truck dealership.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,500,000
- Buyer: Charles Raitan
- Seller: Todd Gallow
- Buyer's Representative: Noah Ohayon - AXIOM Capital Advisors
- Square Footage: 43,560
- Price per Square Foot: $57
- Market: Boca Raton
Noah Ohayon at AXIOM Capital Advisors was instrumental in sourcing this opportunity for his buyer, successfully closing by the end of the year. Congratulations were extended to all parties involved in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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