Gabe Alexander Acquires Industrial Property In Fort Pierce For $12M
SOLD
$12,000,000
Florida
See Similar DealsIndustrial115,000 SF
Sold 03/17/2022
SOLD
Gabe Alexander Acquires Industrial Property In Fort Pierce For $12M
7300 Commercial Circle, Fort Pierce, Florida 34951, United States
See Similar DealsIndustrial115,000 SF
Sold 03/17/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$104
Total Square Footage:115,000 SF
Transaction Type:Sale
An industrial property located at 7300, 7337, & 7339 Commercial Circle in Fort Pierce has been sold for $12,000,000. The property spans 115,000 square feet, resulting in a price per square foot of $104. The transaction took place on 03/17/2022.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,000,000
- Address: 7300, 7337, & 7339 Commercial Circle, Fort Pierce
- Market: Fort Pierce
- Buyer: Gabe Alexander
- Seller: Babak Ebrahimzadeh - MasterMind
- Broker: Rachel Mitrogiannis - Ascella Group, LLC
- Square Footage: 115,000
- Price per Square Foot: $104
Rachel Mitrogiannis from Ascella Group, LLC represented the buyer, Gabe Alexander, in this industrial property transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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