Romero Britto Acquires Industrial Asset In Little River For $11.8M With Broker Representation
SOLD
$11,800,000
Florida
See Similar DealsIndustrial58,000 SF
Sold 09/20/2024
SOLD
Romero Britto Acquires Industrial Asset In Little River For $11.8M With Broker Representation
795 Northwest 72nd Street
See Similar DealsIndustrial58,000 SF
Sold 09/20/2024
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$203
Total Square Footage:58,000 SF
Transaction Type:Sale
The property asset involved in this transaction is an industrial space located at 795 Northwest 72nd Street in Little River. The sale was finalized for a price of $11,800,000 and encompasses a total square footage of 58,000. The price per square foot for this asset stands at $203.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $11,800,000
- Square Footage: 58,000
- Price per Square Foot: $203
- Buyer: Romero Britto
- Seller: Joseph Del Vecchio
- Buyer's Representative: Jason Zarco - Berkshire Hathaway HomeServices EWM Realty
- Seller's Representative: Alfredo Riascos - Gridline Properties
The transaction involved key individuals, including the buyer Romero Britto and seller Joseph Del Vecchio, with Jason Zarco representing the buyer and Alfredo Riascos acting as the seller's representative. Both representatives are affiliated with their respective firms, providing professional guidance throughout the sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$629,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,922.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,938.02
Annual Debt Service$671,256.24
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