Kenneth Morgan Acquires Warehouse On Investment Ln In West Palm Beach For $3.9M
SOLD
$3,900,000
Florida
See Similar DealsIndustrial31,500 SF
Sold 12/21/2021
SOLD
Kenneth Morgan Acquires Warehouse On Investment Ln In West Palm Beach For $3.9M
3820 Investment Lane, West Palm Beach, Florida 33404, United States
See Similar DealsIndustrial31,500 SF
Sold 12/21/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$123
Total Square Footage:31,500 SF
Transaction Type:Sale
A warehouse located at 3820 Investment Ln in West Palm Beach, FL has been sold. The property spans 31,500 square feet and was sold for a price of $3,900,000, resulting in a price per square foot of $123.
Summary of transaction details
- Property Type: Warehouse
- Transaction Amount: $3,900,000
- Address: 3820 Investment Ln, West Palm Beach, FL
- Market: West Palm Beach, FL
- Buyer: Kenneth Morgan
- Seller: Brew Lynn St John & William P St John Jr & Mildred E St John
Kenneth Morgan purchased the warehouse from the sellers, Brew Lynn St John, William P St John Jr, and Mildred E St John. This transaction reflects the active nature of the real estate market in West Palm Beach, FL.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$208,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88
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