STAG Industrial Acquires Industrial Property In Riviera Beach & Lake Worth Beach For $31.75M
SOLD
$31,750,000
Florida
See Similar DealsIndustrial148,000 SF
Sold 01/08/2021
SOLD
STAG Industrial Acquires Industrial Property In Riviera Beach & Lake Worth Beach For $31.75M
4268 Westroads Drive, Riviera Beach, FL, USA
See Similar DealsIndustrial148,000 SF
Sold 01/08/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$214
Total Square Footage:148,000 SF
Transaction Type:Sale
An industrial property located at 4268 Westroads Drive, 2230 & 2269 N. 4th Avenue, & 3600 23rd Avenue S. in Riviera Beach and Lake Worth Beach has been sold for $31,750,000. The property spans 148,000 square feet and sits on 17.5 acres. It was sold at a price per square foot of $215 and a price per acre of $1,814,286.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $31,750,000
- Square Footage: 148,000
- Price per Square Foot: $215
- Acres: 17.5
- Price per Acre: $1,814,286
The buyer of the property is STAG Industrial, represented by Benjamin Butcher, while the seller is Eastern Metal Supply.
Benjamin Butcher, from the agency representing STAG Industrial, was involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$112,801.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$150,511.20
Annual Debt Service$1,806,134.38
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