Wanli Xiong Acquires Mixed-Use Property On Fort Lauderdale Beach For $3.998M
SOLD
$3,998,000
Florida
See Similar DealsMixed-use8,218 SF
Sold 07/29/2022
SOLD
Wanli Xiong Acquires Mixed-Use Property On Fort Lauderdale Beach For $3.998M
3100 Northeast 9th Street
See Similar DealsMixed-use8,218 SF
Sold 07/29/2022
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$486
Total Square Footage:8,218 SF
Transaction Type:Sale
The mixed-use property located at 3100-3104 NE 9th St in Fort Lauderdale Beach has been sold in a recent transaction. The property spans 8,218 square feet and was sold for a total price of $3,998,000, resulting in a price per square foot of $486.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,998,000
- Address: 3100-3104 NE 9th St, Fort Lauderdale Beach
- Square Footage: 8,218
The buyer of the property is Wanli Xiong, while Scott Pirofsky and Joseph Kaplan acted as the sellers. The transaction was facilitated by brokers Quinn Sousa and Ryan Shaw of Marcus & Millichap. Wanli Xiong was represented by Quinn Sousa and Ryan Shaw in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,226.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,204.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,952.56
Annual Debt Service$227,430.72
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