James Morris Sells Industrial Asset At 601 Roseland Drive In West Palm Beach For $15M
SOLD
Florida
See Similar DealsIndustrial57,282 SF
Sold 08/15/2024
SOLD
James Morris Sells Industrial Asset At 601 Roseland Drive In West Palm Beach For $15M
601 Roseland Drive
See Similar DealsIndustrial57,282 SF
Sold 08/15/2024
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$261
Total Square Footage:57,282 SF
Transaction Type:Sale
The property involved in this transaction is an industrial asset located at 601 Roseland Drive, West Palm Beach. The sale price of the property was $15,000,000, and it encompasses a total square footage of 57,282, which translates to a price per square foot of $261.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $15,000,000
- Address: 601 Roseland Drive
- Market: West Palm Beach
- Square Footage: 57,282
- Price per Square Foot: $261
- Seller: James Morris
- Seller's Representative: Yishai Sinai - Biscayne Advisors
- Buyer's Representatives: Roberto Susi & Jose Sasson Lerner - AXIOM Capital Advisors
The transaction features James Morris as the seller, represented by Yishai Sinai from Biscayne Advisors. On the buy-side, the representatives were Roberto Susi and Jose Sasson Lerner from AXIOM Capital Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$799,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83
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