Benjamin S. Macfarland Of Storage Rentals Of America Acquires Self Storage Facility For $17.2M
1547 North Florida Mango Road
$17,200,000
$126/SF
Building Size
136,256 SF
Asset Type
Self Storage
Closing
Mar 19, 2025
AI
The property asset involved in the transaction is a self-storage facility located at 1547 North Florida Mango Road in West Palm Beach. This asset was sold for a price of $17,200,000.00 and encompasses a total square footage of 136,256.0.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $17,200,000.00
- Address: 1547 North Florida Mango Road
- Market: West Palm Beach
- Buyer: Benjamin S. Macfarland - Storage Rentals of America
- Seller: West Palm Beach Mini Stor-It
Benjamin S. Macfarland is representing Storage Rentals of America in this acquisition, while the seller, West Palm Beach Mini Stor-It, completed this transaction as part of their strategic adjustments in the self-storage market.
Players
West Palm Beach Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93