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Mike St John Acquires Industrial Property In Port Orange For $6.79M

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SOLD
$6,790,000

Florida

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Industrial40,000 SF
Sold 09/23/2022
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Property Image
SOLD

Mike St John Acquires Industrial Property In Port Orange For $6.79M

406 Oak Place

See Similar Deals
Industrial40,000 SF
Sold 09/23/2022
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$169
Total Square Footage:40,000 SF
Transaction Type:Sale

Located at 406 Oak Place in Port Orange, an industrial property encompassing 40,000 square feet was recently sold for $6,790,000. This transaction was facilitated by Alexander Harrold and Samuel Tobias, representing the seller and buyer respectively. Alexander Harrold, from Matthews Real Estate Investment Services, acted as the seller's representative in the deal. The property, which was purchased by Mike St John, features a price per square foot of $170.

Summary of transaction details

This transaction showcases the successful collaboration between the buyer, Mike St John, and their representative, Samuel Tobias. On the other side, Martin Segal entrusted the sale of the property to Alexander Harrold, who serves as a broker at Matthews Real Estate Investment Services.

Players

Alexander Harrold
9 deals$93.7M volume
BROKER

Martin Segal
B&D Holdings
14 deals$154.7M volume(908) 279-0942
BROKER

Martin Segal
14 deals$154.7M volume
SELLER

Details

SOLD
IMAGE: Alexander Harrold & Samuel Tobias DATE: 09/23/2022 ADDRESS: 406 Oak Place MARKET: Port Orange ASSET TYPE: Industrial BUYER: Mike St John SELLER: Martin Segal BUYER'S REP: Samuel Tobias SELLER'S REP: Alexander Harrold - Matthews Real Estate Investment Services (@Matthews_Reis) SALE PRICE: $6,790,000 SF: 40,000 ~ PPSF: $170

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

$362,133.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,123.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,188.06
Annual Debt Service$386,256.77