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Acoustic Architects Acquires Industrial Property In Little River For $6.25M

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SOLD
$62,500,000

Florida

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Industrial38,423 SF
Sold 10/07/2022
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SOLD

Acoustic Architects Acquires Industrial Property In Little River For $6.25M

950 NW 72nd Street

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Industrial38,423 SF
Sold 10/07/2022
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$1,626
Total Square Footage:38,423 SF
Transaction Type:Sale

The industrial property located at 950 NW 72nd Street in Little River has been sold in a recent transaction. The property spans 38,423 square feet and was sold for a total price of $6,250,000, resulting in a price per square foot of $163. The sale represents a record price per building square footage for a property of its type in the sector. The transaction involved the buyer, Aaron Flint of Acoustic Architects, and the seller, Roland DiGasbarro of Windsor Investments. Wesley Suskind of DeMarco Real Estate represented the buyer, while Jonathan Eismann PA of Gridline Properties represented the seller.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $6,250,000
  • Square Footage: 38,423
  • Price per Square Foot: $163
  • Buyer: Aaron Flint - Acoustic Architects
  • Seller: Roland DiGasbarro - Windsor Investments
  • Buyer's Representative: Wesley Suskind - DeMarco Real Estate
  • Seller's Representative: Jonathan Eismann PA - Gridline Properties

It is worth noting that the property was sold out of an investor's portfolio to a new owner-user using conventional financing. Jonathan Eismann PA and Gridline Properties have been consistently setting multiple sales and leasing records in the Little River, West Little River, and Allapattah Sub Markets.

Players

2 deals$68.8M volume
BUYER

Details

SOLD
IMAGE: Jonathan Eismann DATE: 10/07/2022 ADDRESS: 950 NW 72nd Street MARKET: Little River ASSET TYPE: Industrial BUYER: Aaron Flint - Acoustic Architects SELLER: Roland DiGasbarro - Windsor Investments BUYER'S REP: Wesley Suskind - DeMarco Real Estate SELLER'S REP: Jonathan Eismann PA (@JonEismann)- Gridline Properties (@GridlineProperties) SALE PRICE: $6,250,000 SF: 38,423 ~ PPSF: $163 BSF: 24,104 - PPBSF: $259 NOTE FROM BROKER: The sale represents a record price per building SF for a property of its type and in this sector. The property was sold out of an investor's portfolio to a new owner-user using conventional financing. Jonathan Eismann PA and Gridline Properties continue to break multiple records in the Little River, West Little River, and Allapattah Sub Markets in both sales and leasing categories.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

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Cap Rate

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