Denny St. Romain & Robert Given Acquire Development Site In Fort Lauderdale For $22M
SOLD
$25,000,000
Florida
See Similar DealsDevelopment Site
Sold 01/17/2023
SOLD
Denny St. Romain & Robert Given Acquire Development Site In Fort Lauderdale For $22M
1131 SW 9th Ave, Fort Lauderdale, Florida 33315, United States
See Similar DealsDevelopment Site
Sold 01/17/2023
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
A development site located at 1131 SW 9th Ave in Fort Lauderdale has been sold for $22,000,000. The property was initially listed with an asking price of $25,000,000. The transaction took place on January 17, 2023. The buyers of the property are Denny St. Romain and Robert Given, while the sellers are Michael and Gene Whiddon.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $22,000,000
- Address: 1131 SW 9th Ave, Fort Lauderdale
- Market: Fort Lauderdale
Harrison Whiddon and Nicholas Trotz, representing Better Homes and Gardens Real Estate, served as the brokers for this transaction. They facilitated the negotiations between the buyer and the seller.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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