Dennis R O'Neil Acquires Development Site In Fort Lauderdale For $14M
SOLD
Florida
See Similar DealsDevelopment Site2,805 SF
Sold 03/04/2021
SOLD
Dennis R O'Neil Acquires Development Site In Fort Lauderdale For $14M
2507 Mercedes Dr, Fort Lauderdale, FL, USA
See Similar DealsDevelopment Site2,805 SF
Sold 03/04/2021
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$4,991
Total Square Footage:2,805 SF
Transaction Type:Sale
A development site located at 2507 Mercedes Dr in Fort Lauderdale has been sold for $14,000,000. The transaction took place on March 4, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $14,000,000
The buyer of the property is Dennis R O'Neil, while the sellers are Steven L Feder and Lou Thomas Trosclair.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$746,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,739.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,367.14
Annual Debt Service$796,405.71
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