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Benjamin S. Macfarland Of Storage Rentals Of America Acquires Self Storage Facility For $17.2M

Property Image
SOLD
$17,200,000

Florida

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Self Storage136,256 SF
Sold 03/19/2025
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Property Image
SOLD

Benjamin S. Macfarland Of Storage Rentals Of America Acquires Self Storage Facility For $17.2M

1547 North Florida Mango Road

See Similar Deals
Self Storage136,256 SF
Sold 03/19/2025
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Self Storage
Price Per Square Foot:$126
Total Square Footage:136,256 SF
Transaction Type:Sale

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

BM
Benjamin S. Macfarland
2 deals$115.2M volume
BUYER
Northwestern Mutual
Northwestern Mutual
LENDER

Details

SOLD
IMAGE: Benjamin S. Macfarland DATE: 03/19/2025 ADDRESS: 1547 North Florida Mango Road MARKET: West Palm Beach ASSET TYPE: Self Storage ~ ACRES: 10.22 BUYER: Benjamin S. Macfarland - Storage Rentals of America SELLER: West Palm Beach Mini Stor-It LENDER: Northwestern Mutual Life Insurance Company (@NorthwesternMutual) SALE PRICE: $17,200,000 SF: 136,256 ~ PPSF: $126 NOTE: Storage Rentals of America purchased a 136,256-square-foot self-storage facility at 1547 North Florida Mango Road in West Palm Beach for $17.2 million from West Palm Beach Mini Stor-It. The acquisition was part of a cross-collateralized $65 million loan from Northwestern Mutual Life Insurance Company, maturing in 2033.

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

$917,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$61,107.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$81,536.78
Annual Debt Service$978,441.30