Ben Genet Of Genet Property Group Acquires Industrial Asset In Port St. Lucie For $3.625M
2155 Northwest Settle Avenue
$3,625,000
$140/SF
Building Size
25,750 SF
Asset Type
Industrial
Closing
Feb 10, 2025
AI
The property involved in the transaction is an industrial asset located at 2155 Northwest Settle Avenue in Port St. Lucie. The sale price of the property was $3,625,000, with a total area of 25,750 square feet, resulting in a price per square foot of $140.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,625,000
- Square Footage: 25,750
- Price Per Square Foot: $140
- Buyer: Ben Genet - Genet Property Group; Juda Hersh, Corey Schwartz & Steven Ginsberg - Hersh Equity Group
- Seller: Scott McGee
- Brokers: Nikolaus Schroth, Jeff Allman Jr. & James McKinney - NAI Southcoast
The buyer group includes Ben Genet representing Genet Property Group, along with Juda Hersh, Corey Schwartz, and Steven Ginsberg, all representing Hersh Equity Group. The sellers were represented by Scott McGee, while the brokerage team for this transaction consisted of Nikolaus Schroth, Jeff Allman Jr., and James McKinney from NAI Southcoast.
Players
Port Saint Lucie Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.38%
Cash-on-Cash
-1.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93