Updated May 12, 2025
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
About this deal
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.
On the Map
$3,830,000
$212/SF
Industrial
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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