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406 Oak Place

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

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

406 Oak Place

$6,790,000

$169/SF

Building Size

40,000 SF

Asset Type

Industrial

Closing

Sep 23, 2022

AI

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

Matthews

Broker

$93.7M

vol

9 deals

Broker
Martin Segal

Martin Segal

Seller

$154.7M

vol

14 deals

Seller

Port Orange 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

2.34%

Cash-on-Cash

-0.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93