Mike Mordehai Acquires Industrial Property In Hallandale Beach For $1M
517 NE 2nd Ave Hallandale Beach, FL 33009, USA
$1,000,000
$210/SF
Building Size
4,760 SF
Asset Type
Industrial
Closing
Apr 3, 2023
AI
The industrial property located at 517 Northeast 2nd Avenue in Hallandale Beach has been sold for $1,000,000. The property spans 4,760 square feet, resulting in a price per square foot of $210. The transaction was successfully facilitated by Elad Barokas of Axiom Capital Advisors, who represented both the buyer, Mike Mordehai, and the seller, Raymond Picciolo. This deal closed just 21 days after the contract signing, demonstrating the efficiency and effectiveness of Elad Barokas as a broker.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,000,000
- Square Footage: 4,760
- Price per Square Foot: $210
- Market: Hallandale Beach
Elad Barokas, the representative for both the buyer and the seller, specializes in sourcing and facilitating off-market transactions. He has a track record of delivering successful deals within tight timeframes. Brokers looking to collaborate with Elad can reach him at 786-468-9489 or [email protected] to explore future opportunities.
Players
Miami 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93