ESO Equity Group Sells 22-Unit Multifamily Property On South Tropical Trail In Merritt Island For $5.5M
SOLD
$5,500,000
Florida
See Similar DealsMultiFamily24,270 SF
Sold 06/24/2022
SOLD
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
See Similar DealsMultiFamily24,270 SF
Sold 06/24/2022
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$226
Total Square Footage:24,270 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67
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