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Value Store It Management Acquires Industrial Property In North Lauderdale For $12M

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SOLD
$12,000,000

Florida

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Industrial200,000 SF
Sold 12/09/2019
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SOLD

Value Store It Management Acquires Industrial Property In North Lauderdale For $12M

7600 West McNab Road, North Lauderdale, FL, USA

See Similar Deals
Industrial200,000 SF
Sold 12/09/2019
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$60
Total Square Footage:200,000 SF
Transaction Type:Sale

Value Store It Management has acquired an industrial property located at 7600 West McNab Road in North Lauderdale. The property, measuring 200,000 square feet, was purchased from SS McNab LLC for a total price of $12,000,000. This translates to a price per square foot of $60, making it an attractive investment opportunity in the industrial market.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $12,000,000
  • Square Footage: 200,000
  • Address: 7600 West McNab Road
  • Market: North Lauderdale

Todd Ruderman represented Value Store It Management as the buyer in this transaction. On the seller's side, Thomas Richerson acted as the representative for SS McNab LLC. The deal was successfully closed on December 9, 2019, marking a significant transaction in the industrial property market.

Players

TR
Thomas P. Richerson
2 deals$25.7M volume
SELLER

Details

SOLD
IMAGE: Todd Ruderman DATE: 12/09/2019 ADDRESS: 7600 West Mcnab Road MARKET: North Lauderdale ASSET TYPE: Industrial SELLER: SS Mcnab LLC - Thomas Richerson BUYER: Value Store It Management - Todd Ruderman PRICE: $12,000,000 SF: 200,000 ~ PPSF: $60

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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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
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