ConnectOne Bank Provides $1.6M Acquisition Loan For Industrial Property In Oakland Park
4050 Northeast 5th Avenue
$1,597,500
$112/SF
Building Size
14,183 SF
Asset Type
Industrial
Closing
Jul 6, 2022
AI
The transaction involved an industrial property comprising 14,183 square feet located at 4050 NE 5th Ave & 548 NE 42nd St in the Oakland Park market. The acquisition loan amount secured for this property was $1,597,500.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,597,500
- Lender: ConnectOne Bank
- Broker: Alec Feintuch - Leviathan Capital
- Loan Type: Acquisition
Alec Feintuch represented the broker in this transaction, facilitating the acquisition of the property through the loan arrangement with ConnectOne Bank.
Players
Oakland Park Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.93%
Cash-on-Cash
-2.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93