Updated Oct 28, 2024
Queen Progress Investments Inc. Acquires Commercial Property In Fort Lauderdale For $5.5M
535 Northeast 13th Street, Fort Lauderdale, Florida 33304, United States
$5,475,000
$344/SF
Building Size
15,879 SF
Asset Type
Commercial
Closing
May 3, 2022
About this deal
AI
Queen Progress Investments Inc. has acquired a commercial property in Fort Lauderdale, located at 535, 545, and 603 NE 13th St. The property spans approximately 0.83 acres and was sold by Abby Laughlin. The transaction was facilitated by Jaime Sturgis from Native Realty, serving as the broker representative for the buyer.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $5,475,000
- Square Footage: 15,879
- Price per Square Foot: $345
- Market: Fort Lauderdale
This transaction, dated 05/04/2022, involved Queen Progress Investments Inc. as the purchaser and Abby Laughlin as the seller. Jaime Sturgis, representing Native Realty, acted as the broker in the deal. The property was sold for a total of $5,475,000, with a price per square foot of $345. The commercial asset spans 15,879 square feet and is situated in the market of Fort Lauderdale.
Players
Fort Lauderdale Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.90%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93