Heights Advisors & Legacy Equity Holdings Acquire Retail Property In Downtown Fort Lauderdale For $8.5M
301 Sw 2nd Street
$8,500,000
$982/SF
Building Size
8,650 SF
Asset Type
Retail
Closing
Dec 9, 2022
About this deal
AI
The retail property located at 301 SW 2nd Street in Downtown Fort Lauderdale has been sold in a recent transaction. The property spans 8,650 square feet and has been purchased by Heights Advisors & Legacy Equity Holdings for a total sale price of $8,500,000. The buyer was represented in the deal by Bradley Arendt and Mika Mattingly from Colliers. The seller of the property was Diane Magid.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,500,000
- Address: 301 SW 2nd Street
- Market: Downtown Fort Lauderdale
- Square Footage: 8,650
- Buyer: Heights Advisors & Legacy Equity Holdings
- Seller: Diane Magid
- Brokers: Bradley Arendt & Mika Mattingly - Colliers
This transaction showcases the involvement of Bradley Arendt and Mika Mattingly from Colliers as the representatives of the buyer, Heights Advisors & Legacy Equity Holdings. The deal demonstrates the strong presence of these industry professionals in the retail market of Downtown Fort Lauderdale.
On the Map
$8,500,000
$982/SF
Retail
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Players
Ogden 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