Updated Oct 29, 2024
KODA Capital Acquires West Palm Beach Industrial Properties For $12.75M
6555 Garden Road
$12,750,000
$79/SF
Building Size
161,087 SF
Asset Type
Industrial
Closing
Apr 7, 2021
About this deal
AI
Located in West Palm Beach and Riviera Beach, the industrial property at 6555 Garden Road, 6557 Garden Road, and 3541 Dr Martin Luther King Jr Blvd has been sold in a recent transaction. The property spans a total of 161,087 square feet and was sold for a price of $12,750,000, resulting in a price per square foot of $79.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,750,000
- Address: 6555 Garden Road, 6557 Garden Road & 3541 Dr Martin Luther King Jr Blvd
- Market: West Palm Beach & Riviera Beach
The buyer of the property is KODA Capital, represented by oniDagan and Brandon Kochen. The seller, Interstate Park Holdings, was represented by Douglas Mandel, Tyler Kuhlman, and Richard Redmond from Marcus & Millichap.
Players
Riviera Beach Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.24%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93