Updated Oct 28, 2024
ESO Equity Group Sells 22-Unit Multifamily Property On South Tropical Trail In Merritt Island For $5.5M
485 South Tropical Trail, Merritt Island, Florida 32952, United States
$5,500,000
$226/SF
Building Size
24,270 SF
Asset Type
MultiFamily
Closing
Jun 23, 2022
About this deal
AI
A multifamily property located at 485 S Tropical Trail in Merritt Island has been sold for $5,500,000. The property consists of 22 units with an average price per unit of $250,000. It spans a total area of 24,270 square feet, resulting in a price per square foot of $227.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,500,000
- Address: 485 S Tropical Trail
- Market: Merritt Island
The seller of the property was ESO Equity Group represented by Ori Tal. The buyer was represented by Yusuf Squires from Properties In Town. The seller's representatives were Joe Lafleur and Johnny Pullman, who acted as Multifamily Investment Advisors in the deal.
Players
Merritt Island MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93