Home Depot Acquires Industrial Property In Lake Worth For $26M
SOLD
$26,000,000
Florida
See Similar DealsIndustrial135,268 SF
Sold 08/26/2021
SOLD
Home Depot Acquires Industrial Property In Lake Worth For $26M
7233 North Seacrest Boulevard, Lake Worth, FL, USA
See Similar DealsIndustrial135,268 SF
Sold 08/26/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$192
Total Square Footage:135,268 SF
Transaction Type:Sale
An industrial property located at 7233-7109 N. Seacrest Boulevard in Lake Worth has been sold for $26,000,000. The property spans 135,268 square feet and is situated on 14.8 acres of land. The sale price per square foot is $192, and the price per acre is $1,756,757. The property also features 800 parking spots.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $26,000,000
- Square Footage: 135,268
- Price per Square Foot: $192
- Acreage: 14.8
- Price per Acre: $1,756,757
- Parking Spots: 800
The buyer of the property is Home Depot, while Alliance Partners HSP represented the seller, Richard R. Previdi. This sizable deal in Lake Worth demonstrates the strong market demand for industrial assets in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,386,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$92,372.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$123,253.26
Annual Debt Service$1,479,039.17
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