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201 Nw 1st Ave, 224 Nw 2nd ...

Flying Point Acquires Industrial Portfolio In Hallandale Beach For $4.07M
SOLDIndustrial

Flying Point Acquires Industrial Portfolio In Hallandale Beach For $4.07M

201 Nw 1st Ave, 224 Nw 2nd Ave, 203-205 Nw 2nd Ave, 202 Nw 2nd St, 204 Nw 3rd Ave, 208 Nw 3rd Ave

$4,070,000

$206/SF

Building Size

19,674 SF

Asset Type

Industrial

Closing

Dec 9, 2022

AI

The industrial portfolio located at 201 NW 1st Ave, 224 NW 2nd Ave, 203-205 NW 2nd Ave, 202 NW 2nd St, 204 NW 3rd Ave, and 208 NW 3rd Ave in Hallandale Beach has been sold. The transaction took place on December 9, 2022, with the sale price amounting to $4,070,000. The buyer of the portfolio is Flying Point, represented by Sam Genet and Zach Sohn. The seller is the Estate of Robert Wesley Shay. The brokers involved in the deal are Maxine Robbins and Karen Elizabeth Ohare from The Keyes Company.

Summary of transaction details

  • Property Type: Industrial (Portfolio)
  • Transaction Amount: $4,070,000
  • Address: 201 NW 1st Ave, 224 NW 2nd Ave, 203-205 NW 2nd Ave, 202 NW 2nd St, 204 NW 3rd Ave, 208 NW 3rd Ave, Hallandale Beach
  • Buyer: Flying Point - Sam Genet & Zach Sohn
  • Seller: Estate of Robert Wesley Shay
  • Brokers: Maxine Robbins & Karen Elizabeth Ohare - The Keyes Company

Flying Point, represented by Sam Genet and Zach Sohn, successfully acquired the industrial portfolio in Hallandale Beach. The estate of Robert Wesley Shay acted as the seller in this transaction. The brokers involved in facilitating this deal were Maxine Robbins and Karen Elizabeth Ohare from The Keyes Company.

Players

Maxine Robbins

The Keyes Company

Broker

$4.1M

vol

1 deal

Broker

Sam Genet

Flying Point

Buyer

$69.5M

vol

16 deals

Buyer

Hallandale 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