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Midtown Capital Acquires Industrial Property In Fort Lauderdale For $10.5M

Property Image
SOLD
$10,500,000
Tom O'Loughlin
Larry Genet
Samuel (Sam) Koss

Florida

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Industrial61,325 SF
Sold 10/31/2023
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Property Image
SOLD

Midtown Capital Acquires Industrial Property In Fort Lauderdale For $10.5M

5440 Northwest 33rd Avenue

See Similar Deals
Industrial61,325 SF
Sold 10/31/2023
Tom O'Loughlin
Larry Genet
Samuel (Sam) Koss
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$171
Total Square Footage:61,325 SF
Transaction Type:Sale

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.

Players

Larry Genet
CBRE
Larry Genet
57 deals$436M volume(305) 807-0004
BROKER
Tom O'Loughlin
CBRE
Tom O'Loughlin
56 deals$831.7M volume(954) 817-3919
BROKER
Samuel (Sam) Koss
CBRE
Samuel Koss
2 deals$16.3M volume(508) 237-8824
BROKER
MC
Midtown Capital
BUYER

Details

SOLD
IMAGE: Larry Genet, Sam Koss & Tom O'Loughlin DATE: 10/31/2023 ADDRESS: 5440 Northwest 33rd Avenue MARKET: Fort Lauderdale ASSET TYPE: Industrial BUYER: Midtown Capital SELLER: Rick Zorovich BROKERS: Sam Koss (@Samkoss), Larry Genet (@Larrygenet) & Tom O'Loughlin (@OLoughlin.Tom) - CBRE (@CBRE) SALE PRICE: $10,500,000 SF: 61,325 ~ PPSF: $171

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

$559,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,775.36
Annual Debt Service$597,304.28