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500 N State Rd 7
SOLD

Ron Osborne Represents GCDC 3, LLC In $1.7M Plantation Commercial Property Sale

500 N State Rd 7

Commercial
clock iconSold 239 days ago
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Summary

Sale
FLORIDA
Commercial

The property located at 500 N State Rd 7, Plantation, FL, 33317 in Plantation was sold in a transaction for $1,700,000.00. The asset is a commercial property with legal conforming zoning for auto sales, situated on a hard-lighted corner. The property was purchased by GCDC 3, LLC, and the seller was 500 Ventures, LLC, who also owned a related company, Car Net Auto Sales, Inc. The tenant leased the property back on a triple net lease basis for 5 years, resulting in a combined transaction value of approximately $2.4 million.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: $1,700,000.00
  • Buyer: GCDC 3, LLC
  • Seller: 500 Ventures, LLC
  • Tenant: Car Net Auto Sales, Inc.

Ron Osborne, representing Sperry Commercial Global Affiliates I RJ Realty, facilitated the sale/leaseback deal for the property at 500 N State Rd 7. He mentioned that the location's attributes and conforming zoning for auto sales were key drivers of the property's value. This transaction marks the third deal completed by Osborne with the same buyer, GCDC 3, LLC, for automotive properties in South Florida. Additionally, in a separate transaction, Osborne supervised the renovations of an auto repair facility at 770 N State Rd 7, owned by GCDC 2, LLC, after its purchase in December 2021.

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Ron Osborne's profile picture
Ron Osborne
Sperry Commercial Global Affiliates I RJ Realty-image
Managing Director
$53.3M Sold

Details

Deal Summary
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SOLD
IMAGE: 500 N State Rd 7, Plantation, FL, 33317 MARKET: Plantation ASSET TYPE: Commercial BUYER'S REP: Ron Osborne(Sperry Commercial Global Affiliates I RJ Realty) BUYER: GCDC 3, LLC PRICE: $1,700,000.00.00

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Address500 N State Rd 7

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