Lakeland Village Acquires Self Storage In Salisbury & Mooresvill, NC For $23.6M
SOLD
$23,600,000
North Carolina
See Similar DealsSold 08/22/2022
SOLD
Lakeland Village Acquires Self Storage In Salisbury & Mooresvill, NC For $23.6M
725 Jake Alexander Boulevard South, Salisbury, North Carolina 28147, United States
See Similar DealsSold 08/22/2022
Summary
NORTH CAROLINA
Transaction Type:Sale
725 Jake Alexander Blvd S & 1110 Brawley School Rd, located in Salisbury & Mooresville, NC, was recently sold for a total of $23,600,000. The property is a self-storage facility.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $23,600,000
- Buyer: Lakeland Village
- Broker: Morgan Windbiel - CBRE
Morgan Windbiel from CBRE represented Lakeland Village as the buyer in this transaction.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,258,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$83,845.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$111,876.04
Annual Debt Service$1,342,512.48
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