Andler Enterprises Sells 22,118 SF Industrial Building In Lake Worth For $4.07M
1830 2nd Avenue North
$4,070,000
$184/SF
Building Size
22,118 SF
Asset Type
Industrial
Closing
Mar 25, 2024
AI
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
Lake Worth 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
3.90%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93