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

Property Image
SOLD
$3,595,000

Florida

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Industrial21,500 SF
Sold 10/29/2021
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Property Image
SOLD

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

See Similar Deals
Industrial21,500 SF
Sold 10/29/2021
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$167
Total Square Footage:21,500 SF
Transaction Type:Sale

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
50 deals$330.5M volume
BROKER


Flying Point
BUYER

4 deals$14.9M volume
SELLER

4 deals$14.9M volume
SELLER

Details

SOLD
IMAGE: Miguel Pinto DATE: 10/29/2021 ADDRESS: 208 NW 1 Ave, 214-224 NW 1 Avenue, 18-22 NW 2 Street MARKET: Hallandale Beach ASSET TYPE: Industrial BUYER: Flying Point (@FlyingPointRE) - Zach Sohn & Sam Genet SELLER: MMM South Florida - Scott Milgram BROKER: Miguel Pinto - Apex Capital Realty (@ApexCapitalRealty) ASKING PRICE: $3,650,000 SALE PRICE: $3,595,000 SF: 21,500 ~ PPSF: $167

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$191,733.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,772.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,042.13
Annual Debt Service$204,505.61