Extra Space Storage Acquires Industrial Asset In Margate For $22.1M
750 South State Road 7, Margate, FL, USA
$22,100,000
$218/SF
Building Size
101,300 SF
Asset Type
Industrial
Closing
Oct 12, 2021
AI
The industrial property located at 750 & 780 South State Road 7 in Margate has been sold. The property, with a total square footage of 101,300, was sold for a price of $22,100,000, resulting in a price per square foot of $218. The transaction took place on October 13, 2021.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $22,100,000
- Buyer: Extra Space Storage - Joseph D. Margolis
- Seller: Nuvo Development
- Address: 750 & 780 South State Road 7, Margate
- Market: Margate
Extra Space Storage, represented by Joseph D. Margolis, acquired the industrial property from Nuvo Development. The transaction was completed on October 13, 2021, for a total price of $22,100,000. This deal represents a price per square foot of $218. The property is located at 750 & 780 South State Road 7 in Margate.
Margate 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93