Ultimate Realty Acquires Industrial Portfolio In Fort Myers, St. Cloud & Kissimmee For $21.2M
2861 Work Drive
$21,200,000
$134/SF
Building Size
158,084 SF
Asset Type
Industrial
Closing
Sep 7, 2023
AI
The industrial portfolio located at 2861 Work Drive, 1408 Hamlin Ave., and 5220 Giron Circle has been sold for a total price of $21,200,000. This portfolio spans a total area of 158,084 square feet, with an average price per square foot of $134. The transaction took place in Fort Myers, St. Cloud, and Kissimmee.
Summary of transaction details
- Property Type: Industrial Portfolio
- Transaction Amount: $21,200,000
- Square Footage: 158,084
- Price Per Square Foot: $134
- Address: 2861 Work Drive, 1408 Hamlin Ave., and 5220 Giron Circle
- Market: Fort Myers, St. Cloud, and Kissimmee
The buyer in this transaction is Ultimate Realty, represented by Mark Sabbagh and Michael Sabbagh. The seller of the industrial portfolio is Sunizo REIT. The deal was facilitated by Vincent Wolle, who acted as the broker for the transaction.
Players
Market 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
0.75%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93