Heights Advisors & Legacy Equity Holdings Acquire Retail Property In Downtown Fort Lauderdale For $8.5M
SOLD
$8,500,000
Florida
See Similar DealsRetail8,650 SF
Sold 12/08/2022
SOLD
Heights Advisors & Legacy Equity Holdings Acquire Retail Property In Downtown Fort Lauderdale For $8.5M
301 SW 2nd StFort Lauderdale, FL 33312, USA
See Similar DealsRetail8,650 SF
Sold 12/08/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$982
Total Square Footage:8,650 SF
Transaction Type:Sale
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
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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