Updated Oct 29, 2024
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
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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