Updated Oct 28, 2024
Trio Investment Group Acquires Industrial Property In Ormond Beach For $5.1M
9 Tower Circle East, Ormond Beach, Florida 32174, United States
$5,153,846
$70/SF
Building Size
72,745 SF
Asset Type
Industrial
Closing
Mar 27, 2022
About this deal
AI
Located in Ormond Beach, the industrial property at 9 Tower Circle West was recently sold in a transaction brokered by Marcus & Millichap. The property spans across 3.34 acres and offers a total of 72,745 square feet of space. The sale took place on 03/28/2022, with a sale price of $5,153,846, resulting in a price per square foot of $71. The buyer, Trio Investment Group, acquired the property from the seller, ITA Inc. Blinds Co.
Summary of transaction details:
- Property Type: Industrial
- Sale Price: $5,153,846
- Date: 03/28/2022
- Address: 9 Tower Circle West
- Market: Ormond Beach
- Asset Type: Industrial
- Acres: 3.34
The deal was facilitated by Andrew Jaworski and Tarek Chbeir from Marcus & Millichap. They represented both the buyer, Trio Investment Group, and the seller, ITA Inc. Blinds Co. The transaction highlights the importance of experienced brokers in closing successful property deals.
On the Map
$5,153,846
$70/SF
Industrial
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Players
Ormond Beach 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
3.08%
Cash-on-Cash
-0.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93