Updated Oct 28, 2024
Heights Advisors & Legacy Partners Acquire Development Site In Fort Lauderdale For $6.7M
111 Southwest 3rd Avenue, Fort Lauderdale, FL, USA
$6,700,000
$705/SF
Building Size
9,500 SF
Asset Type
Development Site
Closing
Nov 17, 2021
About this deal
AI
The development site located at 111 Southwest Third Avenue in Fort Lauderdale has been sold in a transaction. The property spans approximately 1 acre and was acquired by Heights Advisors & Legacy Partners. The seller of the property was GB Property Management. The sale price for the transaction amounted to $6,700,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,700,000
- Address: 111 Southwest Third Avenue, Fort Lauderdale
- Market: Fort Lauderdale
- Buyer: Heights Advisors & Legacy Partners
- Seller: GB Property Management
- Brokers: Bradley Arendt & Mika Mattingly - Colliers
- Acres: 1
The deal was facilitated by Bradley Arendt and Mika Mattingly from Colliers, who served as the brokers representing the buyer and seller, respectively.
Players
Fort Lauderdale Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93