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Ben Genet Of Genet Property Group And Juda Hersh & Corey Schwartz Acquire Industrial Asset In Palm Bay For $6.3M

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SOLD
$6,300,000

Florida

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Industrial57,840 SF
Sold 10/01/2024
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SOLD

Ben Genet Of Genet Property Group And Juda Hersh & Corey Schwartz Acquire Industrial Asset In Palm Bay For $6.3M

2510 Kirby Avenue Northeast

See Similar Deals
Industrial57,840 SF
Sold 10/01/2024
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$108
Total Square Footage:57,840 SF
Transaction Type:Sale

The industrial asset located at 2510 Kirby Avenue Northeast in the Palm Bay market has a total area of 57,840 square feet. The property was sold for $6,300,000, resulting in a price per square foot of $108.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $6,300,000
  • Address: 2510 Kirby Avenue Northeast
  • Market: Palm Bay
  • Square Footage: 57,840
  • Price per Square Foot: $108
  • Buyer: Ben Genet - Genet Property Group; Juda Hersh & Corey Schwartz - Hersh Equity Group
  • Seller: Frederic Stein
  • Broker Representatives: Adam Steinlauf & Michael Lewin - Katalyst Real Estate & Development

In this transaction, Ben Genet represented Genet Property Group as the buyer, while Juda Hersh and Corey Schwartz represented Hersh Equity Group. The seller, Frederic Stein, completed the sale with the assistance of Adam Steinlauf and Michael Lewin, who acted as broker representatives for Katalyst Real Estate & Development.

Players

Michael Lewin
24 deals$326.3M volume
BROKER

Adam Steinlauf
Katalyst Real Estate & Development
12 deals$138.8M volume(954) 830-1389
BROKER

Details

SOLD
IMAGE: Corey Schwartz, Michael Lewin, Juda Hersh, Adam Steinlauf & Ben Genet DATE: 10/01/2024 ADDRESS: 2510 Kirby Avenue Northeast MARKET: Palm Bay ASSET TYPE: Industrial BUYER: Ben Genet - Genet Property Group; Juda Hersh (@Flwarehouseguy) & Corey Schwartz (@C3po_6) - Hersh Equity Group (@HershEquity) SELLER: Frederic Stein BROKERS: Adam Steinlauf (@AdamSteinlauf) & Michael Lewin (@Mikey_Lew) - Katalyst Real Estate & Development (@KatalystRealEstate) SALE PRICE: $6,300,000 SF: 57,840 ~ PPSF: $108

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$336,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57