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Redfearn Capital Acquires Industrial Property In Clearwater For $12.8M

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SOLD
$12,825,000

Florida

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Industrial103,750 SF
Sold 09/27/2022
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SOLD

Redfearn Capital Acquires Industrial Property In Clearwater For $12.8M

3939 Airway Circle, Clearwater, Florida 33762, United States

See Similar Deals
Industrial103,750 SF
Sold 09/27/2022
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$123
Total Square Footage:103,750 SF
Transaction Type:Sale

Alex Redfearn took to Instagram to share his latest industrial property acquisition in Clearwater. The property, located at 3939 Airway Circle and 13200 40th St N, is a prime industrial asset with a total square footage of 103,750. The property was sold for an impressive price of $12,825,000, reflecting a price per square foot of $124. The industrial property is situated in a highly sought-after location in the Clearwater market.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $12,825,000
  • Address: 3939 Airway Circle & 13200 40th St N, Clearwater
  • Market: Clearwater

Redfearn Capital, led by Alex Redfearn and Joe Pasquale, acted as the buyer in this successful transaction. Their expertise in the industrial property sector has secured them this significant deal. Redfearn Capital is renowned for its strategic investments in the industrial market, making them a prominent player in the industry.

Players

BROKERAGE

AR
16 deals$586.6M volume
BUYER

Details

SOLD
IMAGE: Alex Redfearn DATE: 09/27/2022 ADDRESS: 3939 Airway Circle & 13200 40th St N MARKET: Clearwater ASSET TYPE: Industrial BUYER: Redfearn Capital - Alex Redfearn & Joe Pasquale SALE PRICE: $12,825,000 SF: 103,750 ~ PPSF: $124

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

$684,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$45,564.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,797.04
Annual Debt Service$729,564.52