Bobeck Real Estate Acquires Industrial Property In Lakeland For $15.1M
SOLD
$15,100,000
Florida
See Similar DealsIndustrial222,134 SF
Sold
SOLD
Bobeck Real Estate Acquires Industrial Property In Lakeland For $15.1M
5275 Drane Field Rd, Lakeland, FL 33811, USA
See Similar DealsIndustrial222,134 SF
Sold
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$68
Total Square Footage:222134 SF
Transaction Type:Sale
Blue Steel Development has sold an industrial property in Lakeland. The property, located at 5275 Drane Field Road, was purchased by Bobeck Real Estate for a total price of $15,100,000. The asset spans 222,134 square feet, resulting in a price per square foot of $68.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $15,100,000
- Address: 5275 Drane Field Road
- Market: Lakeland
The sale of this industrial property was facilitated by Colliers International brokers Ryan Vaught, Robyn Hurrell, and Oliver Vaubois who represented the buyer and seller in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$805,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,647.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,581.70
Annual Debt Service$858,980.44
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