Merit Hill Capital Acquires Self Storage Property In Davie For $17.5M
5370 South University Drive, Davie, Florida 33328, United States
$17,500,000
$243,055/SF
Building Size
72 SF
Asset Type
Self Storage
Closing
Nov 22, 2022
AI
Located at 5370 South University Drive in Davie, this self-storage property spans across 4.5 acres. The transaction, which took place on November 22, 2022, involved the sale of the property.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $17,500,000
- Square Footage: 72,401
- Price per Square Foot: $242
- Number of Units: 20
- Price per Unit: $875,000
- Market: Davie
- Buyer: Merit Hill Capital - Elizabeth Schlesinger
- Seller: Everest Properties
Elizabeth Schlesinger, representing Merit Hill Capital, was the buyer in this transaction, while Everest Properties acted as the seller.
Players
Davie Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93