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151 State Road 7, Wellingto...

Justin Landau & Geoffrey Karas Acquire Bank/Credit Unions Property In Wellington, FL
SOLDRetail

Justin Landau & Geoffrey Karas Acquire Bank/Credit Unions Property In Wellington, FL

151 State Road 7, Wellington, Florida 33411, United States

$4,000,030

$1,139/SF

Building Size

3,512 SF

Asset Type

Retail

Closing

Jun 1, 2022

AI

The bank/credit union located at 151 State Road 7 in Wellington, FL has been sold in a transaction that closed on 06/02/2022. The property spans over 3,512 square feet and was sold at a price of $4,000,030, resulting in a price per square foot of $1,138.

Summary of transaction details:

  • Property Type: Bank/Credit Unions
  • Transaction Amount: $4,000,030
  • Square Footage: 3,512
  • Address: 151 State Road 7, Wellington, FL
  • Market: Wellington, FL

Justin Landau & Geoffrey Karas have acted as the buyers in this transaction, while Steven C. Voorhees & Bruce L. Tanner were the sellers.

Players

Justin Landau

El Car Wash

Buyer

$96.7M

vol

7 deals

Buyer

Steven C. Voorhees

Seller

$14M

vol

4 deals

Seller

Wellington Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93