Bridge Industrial Acquires 22.4 Acre Development Site In Dania Beach For $20M
SOLD
$20,000,000
Florida
See Similar DealsDevelopment Site171,000 SF
Sold 06/21/2022
SOLD
Bridge Industrial Acquires 22.4 Acre Development Site In Dania Beach For $20M
2200 Northeast 7th Avenue, Dania Beach, Florida 33004, United States
See Similar DealsDevelopment Site171,000 SF
Sold 06/21/2022
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$117
Total Square Footage:171,000 SF
Transaction Type:Sale
The development site located at 2200 Northeast Seventh Avenue in Dania Beach has been sold in a closed transaction. The property spans over 22.4 acres and is situated in a prime location.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Address: 2200 Northeast Seventh Avenue, Dania Beach
- Market: Dania Beach
- Acres: 22.4
Bridge Industrial, represented by Steve Poulos, has acquired the property from Park 'N Fly. The transaction highlights the strong demand for development sites in the area. The deal closed on June 21, 2022, and the sale price was $20,000,000. The building square footage is 170,892, resulting in a price per square foot of $117.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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