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1862 Northwest 29th Street

Michael Spetko Acquires 18,000 SF Industrial Property In Oakland Park For $3.83M
SOLDIndustrial

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

Sam Schwartz

STL Commercial

Broker

$23.2M

vol

5 deals

Broker

Jason Rubin

Seller

$58.2M

vol

9 deals

Seller

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