Heights Advisors & Legacy Equity Holdings Acquire Retail Property In Downtown Fort Lauderdale For $8.5M
301 SW 2nd StFort Lauderdale, FL 33312, USA
$8,500,000
$982/SF
Building Size
8,650 SF
Asset Type
Retail
Closing
Dec 8, 2022
About this deal
AI
A retail property located at 301 SW 2nd Street in Downtown Fort Lauderdale has been sold. The property, spanning 8,650 square feet, was sold for a total price of $8,500,000, resulting in a price per square foot of $983. The sale was finalized on 12/08/2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,500,000
- Square Footage: 8,650
- Address: 301 SW 2nd Street
- Market: Downtown Fort Lauderdale
The buyer of the property is Heights Advisors & Legacy Equity Holdings, while the seller is Diane Magid. The deal was facilitated by brokers Bradley Arendt and Mika Mattingly from Colliers.
On the Map
$8,500,000
$982/SF
Retail
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Players
Fort Lauderdale 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
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93