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1830 2nd Avenue North

SOLDIndustrial

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

Greg Milopoulos

Lee & Associates

Broker

$48.9M

vol

8 deals

Broker

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