Publix Acquires Development Site In Hollywood For $12.8M
SOLD
$12,800,000
Florida
See Similar DealsCommercial61,944 SF
Sold 05/27/2022
SOLD
Publix Acquires Development Site In Hollywood For $12.8M
3100 South Ocean Drive, Hollywood, Florida 33019, United States
See Similar DealsCommercial61,944 SF
Sold 05/27/2022
Summary
FLORIDA
Asset Type:Commercial
Price Per Square Foot:$206
Total Square Footage:61,944 SF
Transaction Type:Sale
The development site located at 3100 South Ocean Drive in Hollywood has been sold in a recent transaction. The property spans across approximately 1.1 acres and is classified as a Development Site.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $12,800,000
- Address: 3100 South Ocean Drive, Hollywood
- Market: Hollywood
- Acres: 1.1
The buyer in this transaction is Publix, while the seller is Transamerican Development represented by Albert Benalloun. The sale was finalized on 05/27/2022, and the property's sale price was $12,800,000. The building size factor (BSF) for the development site is 30,000, implying a price per BSF (PPBSF) of $427.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$682,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$45,475.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,678.53
Annual Debt Service$728,142.36
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