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Flying Point Acquires Industrial Property In Oakland Park For $4.3M

Property Image
SOLD
$4,300,000
Miguel Pinto
+ 2

Florida

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Industrial45,863 SF
Sold 01/27/2022
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Property Image
SOLD

Flying Point Acquires Industrial Property In Oakland Park For $4.3M

4003 Northeast 6th Avenue, Oakland Park, Florida 33334, United States

See Similar Deals
Industrial45,863 SF
Sold 01/27/2022
Miguel Pinto
+ 2
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$93
Total Square Footage:45,863 SF
Transaction Type:Sale

Located at 4003 NE 6th Ave in Oakland Park, this industrial property was recently sold in a closed transaction. The property spans a total of 45,863 square feet and was sold for a price of $4,300,000, resulting in a price per square foot of $94.

Summary of transaction details

The buyer in this transaction is Flying Point, represented by Sam Genet and Zach Sohn. On the other hand, the seller is Douglas Shellstrom and Melvin John Haste. The deal was facilitated by Miguel Pinto and Jason Abitbol from APEX Capital Realty, who represented their respective clients throughout the transaction.

Players

Miguel Pinto
50 deals$330.5M volume
BROKER

Jason Abitbol
APEX Capital Realty
26 deals$179M volume(561) 542-3704
BROKER


Zach Sohn
Flying Point
14 deals$58.9M volume
BUYER

2 deals$6.4M volume
SELLER

Details

SOLD
IMAGE: Miguel Pinto & Jason Abitbol DATE: 01/27/2022 ADDRESS: 4003 NE 6th Ave MARKET: Oakland Park ASSET TYPE: Industrial BUYER: Flying Point (@FlyingPointRE) - Sam Genet & Zach Sohn SELLER: Douglas Shellstrom & Melvin John Haste BROKERS: Miguel Pinto & Jason Abitbol (@@jasonabitbol )- APEX Capital Realty (@APEXCapitalRealty) SALE PRICE: $4,300,000 SF: 45,863 ~ PPSF: $94

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

$229,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33