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James Morris Sells Industrial Asset At 601 Roseland Drive In West Palm Beach For $15M

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SOLD
$15,000,000

Florida

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Industrial57,282 SF
Sold 08/15/2024
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SOLD

James Morris Sells Industrial Asset At 601 Roseland Drive In West Palm Beach For $15M

601 Roseland Drive

See Similar Deals
Industrial57,282 SF
Sold 08/15/2024
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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.

Players

Jose Sasson Lerner
76 deals$852.5M volume(786) 393-8089
BROKER

Roberto Susi
AXIOM Capital Advisors
70 deals$895.7M volume
BROKER

Yishai Sinai
Biscayne Advisors
16 deals$93.5M volume(305) 707-1646
BROKER

Details

SOLD
IMAGE: Roberto Susi, Yishai Sinai & Jose Sasson Lerner DATE: 08/15/2024 ADDRESS: 601 Roseland Drive MARKET: West Palm Beach ASSET TYPE: Industrial SELLER: James Morris SELLER'S REP: Yishai Sinai - Biscayne Advisors (@BiscayneAdvisors) BUYER'S REP: Roberto Susi (@RSusi29) & Jose Sasson Lerner - AXIOM Capital Advisors SALE PRICE: $15,000,000 SF: 57,282 ~ PPSF: $261

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Deal Type
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