Updated Oct 29, 2024
OceanLand Acquires Development Site In Fort Lauderdale For $13.2M With Seller's Rep Brad Capas - Cushman & Wakefield
105 Nw 3 Ave
$13,200,000
$319/SF
Building Size
41,382 SF
Asset Type
Development Site
Closing
Mar 14, 2023
About this deal
AI
OceanLand has acquired a development site located at 105 Nw 3 Ave in Fort Lauderdale. The property, consisting of 0.95 acres, was sold by Florida East Coast Industries for a total price of $13,200,000.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $13,200,000
- Address: 105 Nw 3 Ave, Fort Lauderdale
- Market: Fort Lauderdale
- Buyer: OceanLand - Jean Francois Roy & Marc Andre Roy
- Seller: Florida East Coast Industries
- Seller's Representative: Brad Capas - Cushman & Wakefield
- Acres: 0.95
Brad Capas of Cushman & Wakefield represented Florida East Coast Industries in the transaction. This acquisition marks an important step for OceanLand in expanding its portfolio in the Fort Lauderdale market.
On the Map
$13,200,000
$319/SF
Development Site
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Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93