Updated Dec 4, 2024
Midtown Capital Acquires Industrial Property In Fort Lauderdale For $10.5M
5440 Northwest 33rd Avenue
$10,500,000
$171/SF
Building Size
61,325 SF
Asset Type
Industrial
Closing
Oct 31, 2023
About this deal
AI
The industrial property located at 5440 Northwest 33rd Avenue in Fort Lauderdale has been sold for $10,500,000. The transaction involved a total square footage of 61,325, resulting in a price per square foot of $171.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $10,500,000
- Address: 5440 Northwest 33rd Avenue, Fort Lauderdale
- Market: Fort Lauderdale
- Buyer: Midtown Capital
- Seller: Rick Zorovich
- Brokers: Sam Koss, Larry Genet, and Tom O'Loughlin - CBRE
The deal was facilitated by the brokers Sam Koss, Larry Genet, and Tom O'Loughlin from CBRE. This sale represents a significant transaction in the Fort Lauderdale industrial market, showcasing the demand for properties in this area.
On the Map
$10,500,000
$171/SF
Industrial
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Players
Fort Lauderdale 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
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93