Ken Hobson Of Marcus & Millichap Sells Industrial Property In Melbourne For $2.19M
SOLD
$2,193,000
Florida
See Similar DealsIndustrial16,871 SF
Sold 10/13/2022
SOLD
Ken Hobson Of Marcus & Millichap Sells Industrial Property In Melbourne For $2.19M
2851 Electronics Drive, Melbourne, Florida 32935, United States
See Similar DealsIndustrial16,871 SF
Sold 10/13/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$130
Total Square Footage:16,871 SF
Transaction Type:Sale
The industrial property located at 2851 Electronics Drive in Melbourne was recently sold in a closed transaction. The sale was facilitated by broker Ken Hobson from Marcus & Millichap. The property spans a total area of 16,871 square feet, and the sale price was recorded at $2,193,000, resulting in a price per square foot of $130.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,193,000
- Address: 2851 Electronics Drive, Melbourne
- Market: Melbourne
- Broker: Ken Hobson - Marcus & Millichap
- Square Footage: 16,871
- Price Per Square Foot: $130
This transaction highlights the successful involvement of Ken Hobson from Marcus & Millichap as the broker representing the parties in the deal. The property, located at 2851 Electronics Drive in Melbourne, presents a valuable opportunity in the industrial market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$116,959.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,791.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,395.94
Annual Debt Service$124,751.27
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