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Asi Cabessa Acquires Industrial Property In Riviera Beach For $6.15M

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SOLD
$6,150,000

Florida

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Industrial49,000 SF
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SOLD

Asi Cabessa Acquires Industrial Property In Riviera Beach For $6.15M

3660 East Industrial Way, Riviera Beach, FL, USA

See Similar Deals
Industrial49,000 SF
Sold
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$125
Total Square Footage:49000 SF
Transaction Type:Sale

The property asset involved in this transaction is located at 3660 E Industrial Way, Riviera Beach, and is classified as an industrial property. It has a total square footage of 49,000 and was sold for a sale price of $6,150,000, down from an initial asking price of $6,300,000, resulting in a price per square foot of $126.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $6,150,000
  • Asking Price: $6,300,000
  • Square Footage: 49,000
  • Price Per Square Foot: $126
  • Buyer: Asi Cabessa
  • Seller: Mindful Properties
  • Brokers: Tyler Kuhlman & Doug Mandel @MarcusMillichap_FL
  • Date of Sale: 05/20/2021

The individuals involved in the transaction include the buyer, Asi Cabessa, and the seller, Mindful Properties. Tyler Kuhlman and Doug Mandel represented the seller in this deal through their agency, Marcus Millichap. The sale reflects an active real estate market for industrial properties in the Riviera Beach area.

Players

Douglas K. Mandel
70 deals$1.1B volume(954) 245-3465
BROKER

Tyler Kuhlman
CBRE
111 deals$1.6B volume(561) 685-0140
BROKER

Tyler Kuhlman
CBRE
111 deals$1.6B volume(561) 685-0140
BROKER

Asi Cabessa
9 deals$52M volume
BUYER

Asi Cabessa
9 deals$52M volume
BUYER

SELLER

Details

SOLD
IMAGE: Tyler Kuhlman, Doug Mandel & Pat Carney DATE: 05/20/2021 ADDRESS: 3660 E Industrial Way MARKET: Riviera Beach ASSET TYPE: Industrial BUYER: Asi Cabessa SELLER: Mindful Properties BROKERS: Tyler Kuhlman & Doug Mandel @MarcusMillichap_FL ASKING PRICE: $6,300,000 SALE PRICE: $6,150,000 SF: 49,000 ~ PPSF: $126

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$328,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,849.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,154.14
Annual Debt Service$349,849.65