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The Island Acquires Commercial Property In Coral Springs For $5.73M

Property Image
SOLD
$5,730,000

Florida

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Commercial7,500 SF
Sold 07/19/2022
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Property Image
SOLD

The Island Acquires Commercial Property In Coral Springs For $5.73M

8931 West Atlantic Boulevard, Coral Springs, Florida 33071, United States

See Similar Deals
Commercial7,500 SF
Sold 07/19/2022
Contact now

Summary

FLORIDA
Asset Type:Commercial
Price Per Square Foot:$764
Total Square Footage:7,500 SF
Transaction Type:Sale

An Outparcel at Coral Springs II located at 8931-8947 W Atlantic Blvd in Coral Springs was recently sold for a price of $5,730,000. The commercial property spans 7,500 square feet and was purchased at a rate of $764 per square foot. The transaction took place on July 19, 2022.

Summary of transaction details

  • Property Type: Commercial
  • Transaction Amount: $5,730,000
  • Square Footage: 7,500
  • Address: 8931-8947 W Atlantic Blvd - The Outparcel at Coral Springs II
  • Market: Coral Springs

Ingrid Andres and Greg Gringruz from The Island represented the buyer, while Alex Sharrin from JLL represented the seller in this transaction. The deal was closed, funded, and purchased below the appraised value.

Players

Alex Sharrin
35 deals$908M volume(305) 913-5545
BROKER

Gregory "Greg" Gringruz
6 deals$24.1M volume
BROKER

Ingrid Andres
Exclusively Yours Realty
8 deals$20.9M volume
BROKER

Details

SOLD
IMAGE: Ingrid Andres, Greg Gringruz & Alex Sharrin DATE: 07/19/2022 ADDRESS: 8931-8947 W Atlantic Blvd - The Outparcel at Coral Springs II MARKET: Coral Springs ASSET TYPE: Commercial BUYER'S REP: Ingrid Andres (@RealEstate_Ing) & Greg Gringruz (@Greesh305) - The Island SELLER'S REP: Alex Sharrin - JLL SALE PRICE: $5,730,000 SF: 7,500 ~ PPSF: $764 NOTE FROM BROKER: Closed, funded and purchased below appraised value.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$305,599.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,357.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,163.12
Annual Debt Service$325,957.48