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

Property Image
SOLD
$5,700,000

Florida

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MultiFamily65,000 SF
Sold 05/03/2023
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Property Image
SOLD

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

721 Industrial Dr, Wildwood, FL 34785

See Similar Deals
MultiFamily65,000 SF
Sold 05/03/2023
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$87
Total Square Footage:65,000 SF
Transaction Type:Sale

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
Eric M. Levitt
13 deals$63M volume
BUYER

Details

SOLD
IMAGE: Eric M. Levitt DATE: 05/03/2023 ADDRESS: 721 Industrial Drive MARKET: Wildwood ASSET TYPE: Industrial BUYER: EML Realty Partners - Eric M. Levitt SALE PRICE: $5,700,000 SF: 65,000 ~ PPSF: $88 NOTE: EML Realty Partners announced the acquisition of two industrial buildings in Wildwood, FL, for $5.7 million. The property, located at 721 Industrial Drive, spans over 65,000 square feet on approximately 6 acres and includes an SRS Distribution Center and a smaller building leased by Patio Inspirations.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$304,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,250.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,020.91
Annual Debt Service$324,250.90