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301 SW 2nd StFort Lauderdal...

Heights Advisors & Legacy Equity Holdings Acquire Retail Property In Downtown Fort Lauderdale For $8.5M
SOLDRetail

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

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.

Players

Mika Mattingly

Colliers

Broker

$528.8M

vol

34 deals

Broker
LH
Legacy Equity HoldingsBuyer

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