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5821 24th Street East

Updated Oct 29, 2024

The Motorcoach Store Acquires Industrial Property In Bradenton For $18.3M
SOLDIndustrial

The Motorcoach Store Acquires Industrial Property In Bradenton For $18.3M

5821 24th Street East

$18,300,000

$130/SF

Building Size

139,904 SF

Asset Type

Industrial

Closing

Aug 1, 2023

About this deal

AI

A luxury RV dealership, The Motorcoach Store, has acquired an industrial property in Bradenton for $18.3 million. The property, located at 5821 24th Street East, spans 139,904 square feet. With a price per square foot of $131, this acquisition marks the establishment of The Motorcoach Store's national headquarters in Bradenton.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $18,300,000
  • Address: 5821 24th Street East, Bradenton
  • Market: Bradenton

The Motorcoach Store, owned by Bradley Twait, is making strategic moves with this acquisition. Their plans for the property include the launch of a concierge service and the development of a storage facility. The renovated facility will feature 16 service bays and indoor storage for 88 luxury RVs. Additionally, The Motorcoach Store will house their own cabinet, upholstery, and glass shops on-site, providing convenience and enhanced customer service.

Players

Miami Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $130 per square foot on a published $18.3M for 139,904 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.87%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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