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2155 Northwest Settle Avenue

Ben Genet Of Genet Property Group Acquires Industrial Asset In Port St. Lucie For $3.625M
SOLDIndustrial

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

Nikolaus Schroth

NAI Global

Broker

$13.1M

vol

3 deals

Broker
GG
Genet Property GroupBuyer

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