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22 Northwest 2nd Street, Ha...

Hallandale Beach Industrial Property Sold For $3.6M By Buyer Flying Point And Seller MMM South Florida
SOLDIndustrial

Hallandale Beach Industrial Property Sold For $3.6M By Buyer Flying Point And Seller MMM South Florida

22 Northwest 2nd Street, Hallandale Beach, FL, USA

$3,595,000

$167/SF

Building Size

21,500 SF

Asset Type

Industrial

Closing

Oct 29, 2021

AI

The property asset involved in this transaction is an industrial type located at 208 NW 1 Ave, 214-224 NW 1 Avenue, and 18-22 NW 2 Street in Hallandale Beach. The asking price was $3,650,000, while the sale price was finalized at $3,595,000. The total square footage of the asset is 21,500, resulting in a price per square foot of $167.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $3,595,000
  • Address: 208 NW 1 Ave, 214-224 NW 1 Avenue, 18-22 NW 2 Street
  • Market: Hallandale Beach
  • Buyer: Flying Point - Zach Sohn & Sam Genet
  • Seller: MMM South Florida - Scott Milgram
  • Broker: Miguel Pinto - Apex Capital Realty

This transaction was facilitated by broker Miguel Pinto, representing Apex Capital Realty, who played a pivotal role in bringing together the buyer and seller. The buyers, Zach Sohn and Sam Genet from Flying Point, were interested in acquiring the industrial asset from seller Scott Milgram of MMM South Florida, completing the deal on 10/29/2021.

Players

Miguel Pinto

APEX Capital Realty

Broker

$330.5M

vol

50 deals

Broker
Flying Point
Flying PointBuyer

Scott Milgram

Seller

$14.9M

vol

4 deals

Seller

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

4.41%

Cash-on-Cash

-1.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93