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111 Southwest 3rd Avenue, H...

Height Advisors Acquires Fort Lauderdale Property In $14.5M Package Deal
SOLDRetail

Height Advisors Acquires Fort Lauderdale Property In $14.5M Package Deal

111 Southwest 3rd Avenue, Homestead, FL 33030, USA

$14,500,000

$175/SF

Building Size

82,852 SF

Asset Type

Retail

Closing

Nov 18, 2021

AI

A package deal in Fort Lauderdale consisting of two properties located at 100-110 SW 3rd Ave and 111 SW 3rd Ave has been sold. The transaction took place on 11/18/2021.

Summary of transaction details

  • Property Type: Package Deal
  • Transaction Amount: $14,500,000
  • Square Footage: 82,852
  • Price per Square Foot: $175
  • Market: Fort Lauderdale

The buyer in this transaction was Height Advisors, while the seller was 111 Property Group represented by Greg Berkowitz. The deal was facilitated by Bradley Arendt and Mika Mattingly from Colliers.

The package deal, with a sale price of $14,500,000, involved a total area of 82,852 square feet. The properties are located at 100-110 SW 3rd Ave and 111 SW 3rd Ave in Fort Lauderdale.

Players

Mika Mattingly

Colliers

Broker

$528.8M

vol

34 deals

Broker

Greg Berkowitz

Seller

$25.1M

vol

2 deals

Seller

Homestead Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.09%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93