Ted Vidas Sells Industrial Property In Lake Worth Beach For $2.1M
3551 23rd Avenue South
$2,100,000
$152/SF
Building Size
13,800 SF
Asset Type
Industrial
Closing
Apr 1, 2024
AI
The industrial property located at 3551 23rd Avenue South in Lake Worth Beach, Florida, was recently sold for the asking price of $2,100,000. The sale price matched the initial asking price, with the property spanning across 13,800 square feet, resulting in a price per square foot of $152.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,100,000
- Address: 3551 23rd Avenue South
- Market: Lake Worth Beach
- Seller: Ted Vidas
- Brokers: Raul Pino, Pablo Vignolo, & Jacqueline Rodriguez - The Hype Real Estate Group
The brokers involved in this successful off-market deal were Raul Pino, Pablo Vignolo, and Jacqueline Rodriguez from The Hype Real Estate Group. They specialize in sourcing properties in Florida and are expanding into Georgia and North Carolina. The team's focus includes industrial, retail, multifamily, and land properties. For those interested in exploring off-market deals and their current pipeline, they can be reached at 786-503-5583 or 305-303-3837. The brokers express their willingness to assist buyers of all sizes and invite potential clients to engage with their broad inventory of off-market properties.
Players
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
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93