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4050 Northeast 5th Avenue, ...

Flying Point Acquires Industrial Property In Oakland Park For $2.13M
SOLDIndustrial

Flying Point Acquires Industrial Property In Oakland Park For $2.13M

4050 Northeast 5th Avenue, Oakland Park, Florida 33334, United States

$2,130,000

$150/SF

Building Size

14,183 SF

Asset Type

Industrial

Closing

Jun 6, 2022

AI

A 14,183 SF industrial property located at 4050 NE 5th Ave & 548 NE 42nd St in Oakland Park, was recently sold for $2,130,000. The property is situated on a 24,865 SF lot. The sale took place on 06/07/2022.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $2,130,000
  • Building Size: 14,183 SF
  • Price per Square Foot: $150
  • Lot Size: 24,865 SF
  • Market: Oakland Park

Flying Point, represented by Sam Genet & Zach Sohn, purchased the property from Dan Quade & Melvin John Haste. The buyer was advised by Yishai Sinai from Biscayne Advisors, while Miguel Pinto & Jason Abitbol from APEX Capital Realty represented the sellers in the deal.

Players

Miguel Pinto

APEX Capital Realty

Broker

$330.5M

vol

50 deals

Broker
Leviathan Capital
Leviathan CapitalBrokerage

Sam Genet

Flying Point

Buyer

$69.5M

vol

16 deals

Buyer

Melvin John Haste

Seller

$6.4M

vol

2 deals

Seller
ConnectOne Bank
ConnectOne BankLender

Oakland Park 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

7.45%

Cash-on-Cash

-2.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93