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Benjamin Genet Acquires Industrial Property In Fort Lauderdale For $6.9M

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SOLD
$6,900,000

Florida

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Industrial36,412 SF
Sold 04/29/2022
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Property Image
SOLD

Benjamin Genet Acquires Industrial Property In Fort Lauderdale For $6.9M

1111 Southwest 21st Avenue, Fort Lauderdale, Florida 33312, United States

See Similar Deals
Industrial36,412 SF
Sold 04/29/2022
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$189
Total Square Footage:36,412 SF
Transaction Type:Sale

This industrial property located at 1111 SW 21st Ave in Fort Lauderdale was recently sold for $6,900,000. The transaction took place on April 29, 2022. The property spans a total square footage of 36,412, resulting in a price per square foot of $189. The sale was facilitated by Jason Abitbol and Miguel Pinto of Apex Capital Realty, who represented both the buyer, Benjamin Genet, and the seller, Laurence Diskin of Mandalay Complex.

Summary of transaction details:

The multi-tenant warehouse is strategically positioned on the northwest corner of I-95 and Davie Blvd, presenting a valuable opportunity for value-add. For more off-market properties, interested parties can contact Jason Abitbol of Apex Capital Realty at (561)542-3704.

Players

Miguel Pinto
50 deals$330.5M volume
BROKER

Jason Abitbol
APEX Capital Realty
26 deals$179M volume(561) 542-3704
BROKER

Benjamin Genet
12 deals$185M volume(954) 572-9159
BROKER

Details

SOLD
IMAGE: Miguel Pinto & Jason Abitbol DATE: 04/29/2022 ADDRESS: 1111 SW 21st Ave MARKET: Fort Lauderdale ASSET TYPE: Industrial BUYER: Benjamin Genet SELLER: Laurence Diskin - Mandalay Complex BROKERS: Jason Abitbol (@JasonAbitbol) & Miguel Pinto - Apex Capital Realty (@ApexCapitalRealty) SALE PRICE: $6,900,000 SF: 36,412 ~ PPSF: $189 NOTE FROM BROKER: This multi-tenant warehouse is strategically located on the northwest corner of I-95 and Davie Blvd in Fort Lauderdale, presenting a unique value add opportunity. The deal was sourced and closed by Jason Abitbol and Miguel Pinto of APEX Capital Realty, representing both the buyer and seller. Contact @JasonAbitbol at (561)542-3704 for more off market properties.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$367,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,514.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,709.52
Annual Debt Service$392,514.24