Updated Oct 28, 2024
Avid Asset Management Acquires Industrial Property In West Palm Beach
1601 Hill Avenue, West Palm Beach, Florida 33407, United States
$22,000,000
$154/SF
Building Size
142,082 SF
Asset Type
Industrial
Closing
Mar 30, 2022
About this deal
AI
An industrial property located at 1601 Hill Avenue in West Palm Beach has been sold in a recent transaction. The property offers a prime location in the West Palm Beach market.
Summary of transation details
- Property Type: Industrial
- Transaction Date: 03/31/2022
- Address: 1601 Hill Avenue
- Market: West Palm Beach
Avid Asset Management, represented by Steven Samuels and Fogel Capital, purchased the property from seller Clay Hamlin. The buyer was assisted by their representative, Kapp Morrison. On the other hand, Dominic Montazemi and Mike Davis from Cushman & Wakefield acted as the seller's representatives.
On the Map
$22,000,000
$154/SF
Industrial
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Players
West Palm Beach Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93