Wesley Powell & Nancy Gardner Acquire Garage In Fort Lauderdale, FL For $20M
SOLD
Florida
See Similar DealsIndustrial
Sold
SOLD
Wesley Powell & Nancy Gardner Acquire Garage In Fort Lauderdale, FL For $20M
845 Northeast 5th Terrace, Fort Lauderdale, Florida 33334, United States
See Similar DealsIndustrial
Sold
Summary
FLORIDA
Asset Type:Industrial
Transaction Type:Sale
The garage located at 845 NE 5th Ter in Fort Lauderdale, FL has been sold in a transaction that closed on 07/28/2022. The property was purchased by Wesley Powell & Nancy Gardner from Sabra Katz & Raanan Katz for a total price of $20,000,000.
Summary of transaction details
- Property Type: Garage
- Transaction Amount: $20,000,000
- Address: 845 NE 5th Ter, Fort Lauderdale, FL
- Market: Fort Lauderdale, FL
Wesley Powell & Nancy Gardner acquired the garage from the sellers, Sabra Katz & Raanan Katz, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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