Michael Spetko Acquires 18,000 SF Industrial Property In Oakland Park For $3.83M
1862 Northwest 29th Street
$3,830,000
$212/SF
Building Size
18,000 SF
Asset Type
Industrial
Closing
Apr 15, 2025
AI
Michael Spetko acquired an 18,000 SF industrial flex property located at 1840-1862 Northwest 29th Street in Oakland Park for $3,830,000. The asset type is industrial and covers an area of 0.6 acres, with a price per square foot of $213.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,830,000
- Address: 1840-1862 Northwest 29th Street
- Market: Oakland Park
- Square Footage: 18,000
- Price Per Square Foot: $213
- Buyer: Michael Spetko
- Seller: Jason Rubin
- Brokers: David Richman, Max Loria & Sam Schwartz - STL Commercial
STL Commercial’s Max Loria, Sam Schwartz, and David Richman were the brokers involved in facilitating the transaction between the buyer and seller.
Players
Oakland Park Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.14%
Cash-on-Cash
-1.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93