Updated Oct 28, 2024
Alterra Property Group Acquires Industrial Asset In West Palm Beach For $6.55M
3450 Dr Martin Luther King Jr Boulevard, West Palm Beach, Florida 33404, United States
$6,550,000
$307/SF
Building Size
21,320 SF
Asset Type
Industrial
Closing
May 30, 2022
About this deal
AI
An industrial property located at 3450 Dr Martin Luther King Jr Blvd in West Palm Beach has been sold for $6,550,000. The property spans 3.37 acres with a total square footage of 21,320. The sale price per acre amounts to $1,943,620, and the price per square foot is $307.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $6,550,000
- Address: 3450 Dr Martin Luther King Jr Blvd, West Palm Beach
- Market: West Palm Beach
- Buyer: Alterra Property Group - Charlie Totten
- Seller: DWA Metals - Daymon Allmon
- Brokers: Jose Sasson & Roberto Susi - Axiom Capital Advisors
The industrial property was sold by DWA Metals to Alterra Property Group. The transaction was facilitated by brokers Jose Sasson & Roberto Susi from Axiom Capital Advisors. For future opportunities, interested parties can reach out to Jose Sasson at 786-393-8089 or [email protected].
Players
West Palm 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
2.42%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93