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

Property Image
SOLD
$8,500,000
Bradley Arendt
Mika Mattingly

Iowa

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Retail8,650 SF
Sold 12/09/2022
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Property Image
SOLD

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

301 Sw 2nd Street

See Similar Deals
Retail8,650 SF
Sold 12/09/2022
Bradley Arendt
Mika Mattingly
the dealplayerscompscontact
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Summary

IOWA
Asset Type:Retail
Price Per Square Foot:$982
Total Square Footage:8,650 SF
Transaction Type:Sale

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.

Players

Mika Mattingly
Colliers
Mika Mattingly
34 deals$528.8M volume(786) 486-4391
BROKER
Bradley Arendt
Colliers
Bradley Arendt
16 deals$175.4M volume
BROKER
LH
Legacy Equity Holdings
BUYER
HA
Heights Advisors
BUYER

Details

SOLD
IMAGE: Bradley Arendt & Mika Mattingly DATE: 12/08/2022 ADDRESS: 301 Sw 2nd Street MARKET: Downtown Fort Lauderdale ASSET TYPE: Retail BUYER: Heights Advisors & Legacy Equity Holdings SELLER: Diane Magid BROKERS: Bradley Arendt & Mika Mattingly - Colliers SALE PRICE: $8,500,000 SF: 8,650 ~ PPSF: $983

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Deal Type
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