Updated Nov 24, 2025
Foundry Commercial Acquires 22.2 Acre Development Site In Coral Springs For $40.8M
NW 39th St & NW 120th Ave, Coral Springs, FL 33065
$40,800,000
Building Size
—
Asset Type
Development Site
Closing
Dec 15, 2021
About this deal
AI
The Southwest Corner of Northwest 39th Street & 120th Avenue in Coral Springs has been sold for a price of $40,800,000. The property is a development site spanning 22.2 acres.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $40,800,000
- Date: 12/15/2021
- Address: Southwest Corner of Northwest 39th Street & 120th Avenue
- Market: Coral Springs
- Buyer: Foundry Commercial - Ted Elam
- Seller: Biggie Investments Sawgrass Place East - John Biggie
Ted Elam from Foundry Commercial represented the buyer, while John Biggie from Biggie Investments Sawgrass Place East represented the seller in this transaction.
Players
Coral Springs 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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93