Venezia Real Estate Acquires Industrial Property In Coconut Creek For $8.3M
SOLD
$8,275,000
Florida
See Similar DealsIndustrial45,156 SF
Sold 10/25/2021
SOLD
Venezia Real Estate Acquires Industrial Property In Coconut Creek For $8.3M
6850 Lyons Technology Pkwy, Coconut Creek, FL, USA
See Similar DealsIndustrial45,156 SF
Sold 10/25/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$183
Total Square Footage:45,156 SF
Transaction Type:Sale
The industrial property located at 6850 Lyons Technology Pkwy in Coconut Creek has been sold. The property spans approximately 2.89 acres and is situated in the Coconut Creek market.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $8,275,000
- Square Footage: 45,156
- Price per Square Foot: $183
- Date: 10/25/2021
- Buyer: Venezia Real Estate, LLC
- Seller: Keane Realty Holdings, LLC
The buyer in this transaction was Venezia Real Estate, LLC, represented by Richard F. Etner, Jr of Cushman & Wakefield. The seller, Keane Realty Holdings, LLC, was represented by Tom Hotz of Butters Realty & Management.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$441,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,399.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,227.72
Annual Debt Service$470,732.66
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