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Andler Enterprises Sells 22,118 SF Industrial Building In Lake Worth For $4.07M

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Greg MilopoulosChristian Baena

$4,070,000

SOLD
$4,070,000

Florida

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Industrial22,118 SF
Sold 03/25/2024
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Greg MilopoulosChristian Baena

$4,070,000

SOLD

Andler Enterprises Sells 22,118 SF Industrial Building In Lake Worth For $4.07M

1830 2nd Avenue North

See Similar Deals
Industrial22,118 SF
Sold 03/25/2024
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$184
Total Square Footage:22,118 SF
Transaction Type:Sale

The industrial property located at 1830 2nd Avenue North in Lake Worth Beach, Florida, spans across 1.84 acres. It features a 22,118-square-foot building that includes both warehouse and office space. The property, sold by Andler Enterprises, was acquired for $4,070,000 at a price per square foot of $184. The transaction was facilitated by brokers Christian Baena and Greg Milopoulos from Lee & Associates. The industrial facility offers strategic transportation access within South Florida.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $4,070,000
  • Address: 1830 2nd Avenue North
  • Market: Lake Worth Beach
  • Square Footage: 22,118
  • Seller: Andler Enterprises
  • Brokers: Christian Baena & Greg Milopoulos - Lee & Associates

Greg Milopoulos and Christian Baena of Lee & Associates South Florida were the key individuals who brokered the deal, successfully facilitating the sale of the industrial property in Lake Worth Beach, Florida. The property, boasting a mix of warehouse and office spaces, was sold at its full asking price of $4.07 million, showcasing the expertise and negotiation skills of the brokers in completing the transaction.

Players

Greg Milopoulos
8 deals$48.9M volume(954) 558-1220
BROKER

Christian Baena
Lee & Associates
7 deals$48.9M volume(954) 682-4030
BROKER

Details

SOLD
IMAGE: 03/25/2024 ADDRESS: 1830 2nd Avenue North MARKET: Lake Worth Beach ASSET TYPE: Industrial ~ ACRES: 1.84 SELLER: Andler Enterprises BROKERS: Christian Baena & Greg Milopoulos - Lee & Associates SALE PRICE: $4,070,000 SF: 22,118 ~ PPSF: $184 NOTE: Lee & Associates South Florida's Greg Milopoulos and Christian Baena brokered the $4.07 million sale of a 22,118-square-foot industrial building in Lake Worth Beach, Florida, for Andler Enterprises. The facility, sold for its full asking price, boasts warehouse and office space and strategic transportation access in South Florida.

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

$217,066.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,459.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,293.88
Annual Debt Service$231,526.52