Last Mile Investments Acquires Retail Property In Jupiter For $18.5M
SOLD
$18,500,000
+ 4
Florida
See Similar DealsRetail42,995 SF
Sold 04/15/2021
SOLD
Last Mile Investments Acquires Retail Property In Jupiter For $18.5M
901 West Indiantown Road, Jupiter, FL 33458, USA
See Similar DealsRetail42,995 SF
Sold 04/15/2021
+ 4
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$430
Total Square Footage:42,995 SF
Transaction Type:Sale
The retail property located at 901 West Indiantown Road in Jupiter was recently sold in a transaction for $18,500,000. The property spans across 42,995 square feet, resulting in a price per square foot of $430. It sits on a 4-acre lot, with a price per acre of $4,625,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $18,500,000
- Address: 901 West Indiantown Road, Jupiter
- Market: Jupiter
- Buyer: Ryan Moore, David Birdsall & Todd Pleiman - Last Mile Investments
- Seller: Elion Partners - Jack Azout, Sylvain Argy, Juan DeAngulo & Shlomo Khoudari
- Brokers: Kirk Olson & Drew Kristol - Marcus & Millichap
The buying group, Last Mile Investments, which includes Ryan Moore, David Birdsall, and Todd Pleiman, acquired the property from Elion Partners. The deal was facilitated by brokers Kirk Olson and Drew Kristol from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$986,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$65,726.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$87,699.44
Annual Debt Service$1,052,393.26
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