Investment Property Exchange Services Inc Acquires Property In Hollywood For $4.3M With Seller's Rep Franklin Morrison
SOLD
$4,300,000
Florida
See Similar DealsWarehouse32,880 SF
SOLD
Investment Property Exchange Services Inc Acquires Property In Hollywood For $4.3M With Seller's Rep Franklin Morrison
5791 Plunkett St, Hollywood, FL, 33023
See Similar DealsWarehouse32,880 SF
Summary
FLORIDA
Asset Type:Warehouse
Price Per Square Foot:$130
Total Square Footage:32,880 SF
Transaction Type:Sale
A small bay warehouse portfolio comprising five buildings was sold for $4,300,000. The properties, located at 5740/5771/5790 Rodman, 5770 Funston, and 5791 Plunkett St, span a total of 32,880 square feet. The market for this transaction is Hollywood, and the seller is AE Hollywood, LLC, based in California.
Summary of transaction details:
- Property Type: Warehouse
- Transaction Amount: $4,300,000.00
- Address: 5791 Plunkett St, Hollywood, FL, 33023
- Square Feet: 32,880
- Market: Hollywood
- Seller's Rep: Franklin Morrison - Weaver Morrison Commercial Real
- Buyer: Investment Property Exchange Services, Inc
Franklin B. Morrison, a principal at Weaver Morrison Commercial Real Estate, facilitated the sale on behalf of the seller. The buyer, Investment Property Exchange Services, Inc., had previously engaged with Morrison on another small bay warehouse complex in Broward and was pleased to expand their investment portfolio through this acquisition. Morrison's success with industrial, multi-tenant, small bay warehouse properties has contributed to his extensive client network.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$229,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33
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