Updated Dec 4, 2024
Basis Industrial Secures $11M Construction Loan For Self Storage Facility In Melbourne, FL
2560 Aurora Road
$11,000,000
$86/SF
Building Size
126,741 SF
Asset Type
Self Storage
Closing
Nov 14, 2023
About this deal
AI
Located at 2560 Aurora Road in Melbourne, FL, this self storage property encompasses a total of 126,741 square feet. The transaction was a closed deal and involved a construction loan.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $11,000,000
- Market: Melbourne, FL
- Landlord: Basis Industrial
- Lender: American Momentum Bank
- Loan Type: Construction
The loan for this self storage property, located at 2560 Aurora Road in Melbourne, FL, was provided by American Momentum Bank. The landlord involved in the transaction is Basis Industrial. The loan amount for this construction project was $11,000,000.
On the Map
$11,000,000
$86/SF
Self Storage
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Players
Melbourne Self Storage Market Snapshot
Boundary boundary · Self Storage · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93