Updated Feb 11, 2025
Reich Brothers Acquires Industrial Asset From Downtown Produce In Melbourne For $10.5M
7856 Ellis Road
$10,500,000
$151/SF
Building Size
69,142 SF
Asset Type
Industrial
Closing
Feb 6, 2025
About this deal
AI
The industrial asset located at 7856 Ellis Road in the Melbourne market was sold for a total price of $10,500,000. The property encompasses 69,142 square feet, translating to a price per square foot of $151.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,500,000
- Buyer: Reich Brothers
- Seller: Downtown Produce
- Broker: Jose Montero - The Hype Real Estate Group
The transaction saw active participation from both the buyer and seller, with comprehensive efforts made by the broker representing them, Jose Montero, in facilitating the sale effectively at the specified address.
On the Map
$10,500,000
$151/SF
Industrial
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Melbourne 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
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93