Flying Point Acquires Industrial Portfolio In Hallandale Beach For $4.07M
SOLD
$4,070,000
Florida
See Similar DealsIndustrial19,674 SF
Sold 12/09/2022
SOLD
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
See Similar DealsIndustrial19,674 SF
Sold 12/09/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$206
Total Square Footage:19,674 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
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
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