Life Storage LP Acquires Industrial Property In Fort Lauderdale For $21.6M
SOLD
$21,590,000
Florida
See Similar DealsIndustrial71,748 SF
Sold 06/23/2021
SOLD
Life Storage LP Acquires Industrial Property In Fort Lauderdale For $21.6M
3001 N Dixie Hwy, Fort Lauderdale, FL, USA
See Similar DealsIndustrial71,748 SF
Sold 06/23/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$300
Total Square Footage:71,748 SF
Transaction Type:Sale
The industrial property located at 3001 N Dixie Hwy in Fort Lauderdale has been sold in a recent transaction. The property spans 71,748 square feet and was sold for a price of $21,590,000. The sale price translates to a price per square foot of $301.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $21,590,000
- Square Footage: 71,748
- Price per Square Foot: $301
- Market: Fort Lauderdale
Life Storage LP was the buyer in this transaction, while Christopher M. Capozzoli served as the seller. The deal showcases the involvement of these key individuals and companies in the sale of the industrial property in Fort Lauderdale.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,151,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$76,704.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$102,347.61
Annual Debt Service$1,228,171.38
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