13th Floor Homes Acquires Development Site In Fort Lauderdale For $6 Million
SOLD
$6,000,000
Florida
See Similar DealsDevelopment Site
Sold 08/29/2023
SOLD
13th Floor Homes Acquires Development Site In Fort Lauderdale For $6 Million
2300 SW 15th Ave Fort Lauderdale, FL 33315, USA
See Similar DealsDevelopment Site
Sold 08/29/2023
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
A development site located at 2300 Southwest 15th Avenue in Fort Lauderdale has been sold for $6,000,000. The property was purchased by 13th Floor Homes from the Church Of The Nazarene In Fort Lauderdale. The transaction was facilitated by Bradley Arendt of Colliers International, who represented the buyer during the sale.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,000,000
- Address: 2300 Southwest 15th Avenue, Fort Lauderdale
- Market: Fort Lauderdale
Bradley Arendt, a broker from Colliers International, played a crucial role in the transaction, representing 13th Floor Homes throughout the deal. The sale of the development site signifies the continuous investment and growth in the real estate market of Fort Lauderdale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$319,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73
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