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721 Industrial Dr, Wildwood...

EML Realty Partners Acquires Industrial Buildings In Wildwood, FL For $5.7M
SOLDMultiFamily

EML Realty Partners Acquires Industrial Buildings In Wildwood, FL For $5.7M

721 Industrial Dr, Wildwood, FL 34785

$5,700,000

$87/SF

Building Size

65,000 SF

Asset Type

MultiFamily

Closing

May 3, 2023

AI

EML Realty Partners, represented by Eric M. Levitt, has recently acquired two industrial buildings in Wildwood, FL. The transaction, which closed for $5.7 million, involves a property located at 721 Industrial Drive. Spanning over 65,000 square feet and sitting on approximately 6 acres of land, the asset comprises an SRS Distribution Center along with a smaller building currently leased by Patio Inspirations.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $5,700,000
  • Street Address: 721 Industrial Drive, Wildwood, FL
  • Market: Wildwood
  • Square Footage: 65,000
  • Price per Square Foot: $88

This acquisition presents an opportunity for EML Realty Partners to expand their portfolio in the industrial sector. With the purchase of these buildings, Eric M. Levitt and his team aim to capitalize on the thriving industrial market in Wildwood, FL.

Players

Eric M. Levitt

EML Realty Partners

Buyer

$63M

vol

13 deals

Buyer

Wildwood MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.78%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93