JLL Brokers Sell Southfield Senior Care Facility For $17M
SOLD
Michigan
See Similar DealsSingle Family Residence304,484 SF
Sold 04/14/2021
SOLD
JLL Brokers Sell Southfield Senior Care Facility For $17M
24111 Civic Center Drive, Southfield, MI, USA
See Similar DealsSingle Family Residence304,484 SF
Sold 04/14/2021
Summary
MICHIGAN
Asset Type:Single Family Residence
Price Per Square Foot:$55
Total Square Footage:304,484 SF
Transaction Type:Sale
A senior care facility located at 24111 Civic Center Dr in Southfield, MI, has been sold for a price of $17,000,000. The property consists of 298 units, with a price per unit of $57,047.
Summary of transaction details:
- Property Type: Senior Care Facility
- Transaction Amount: $17,000,000
- Address: 24111 Civic Center Dr, Southfield, MI
- Market: Southfield, MI
The sale of the senior care facility was facilitated by the brokers David Gaines, Joel Mendes, and Dave Macdonald from JLL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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