Updated Sep 5, 2024
Marcus & Millichap Facilitates $2.05M Industrial Property Sale In Tallahassee
5215 West Tharpe Street, Tallahassee, Florida 32303, United States
$2,050,000
Building Size
—
Asset Type
Industrial
Closing
Apr 18, 2023
About this deal
AI
A net-leased property in Tallahassee, Florida, was recently sold for $2.05 million. The property, located at 5215 West Tharpe Street, is an industrial asset in the Tallahassee market. The sale was facilitated by Marcus & Millichap, a commercial real estate brokerage firm.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,050,000
- Date: 04/18/2023
- Address: 5215 West Tharpe Street, Tallahassee, Florida
- Brokers: Dominic Sulo & Samuel Malato - Marcus & Millichap
- Market: Tallahassee
The buyer, a New York-based entity, was represented by Marcus & Millichap's Chicago Oak Brook office. Ryan Nee, the firm's Florida broker of record, assisted with the deal. The property is occupied by Johnson Controls, which recently extended its lease at fair market value.
On the Map
$2,050,000
Industrial
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Players
Tallahassee 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
7.74%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93