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4390 Westroads Drive

Yannai Gordon & James Mendel Acquire Industrial Property In Riviera Beach For $5.2M
SOLDIndustrial

Yannai Gordon & James Mendel Acquire Industrial Property In Riviera Beach For $5.2M

4390 Westroads Drive

$5,200,000

$177/SF

Building Size

29,280 SF

Asset Type

Industrial

Closing

Mar 23, 2023

AI

Located in Riviera Beach, the industrial property at 4390 Westroads Drive has recently changed hands in a sales transaction. The property spans a total of 29,280 square feet and was sold for a price of $5,200,000, resulting in a price per square foot of $178.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $5,200,000
  • Address: 4390 Westroads Drive
  • Market: Riviera Beach

The buyer in this transaction is Yannai Gordon & James Mendel, while the sellers are Eric Levitt & Bryan Becker. The deal was facilitated by the following brokers from Marcus & Millichap: Tyler Kuhlman, Douglas (Doug) Mandel, and Zach Levine.

Players

Douglas K. Mandel

Marcus & Millichap

Broker

$1.1B

vol

72 deals

Broker
Yannai Gordon

Yannai Gordon

Faropoint

Buyer

$213.5M

vol

8 deals

Buyer
Eric M. Levitt

Eric M. Levitt

EML Realty Partners

Seller

$63M

vol

13 deals

Seller

Market 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

3.05%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93