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3100 Northeast 9th Street

Wanli Xiong Acquires Mixed-Use Property On Fort Lauderdale Beach For $3.998M
SOLDMixed-use

Wanli Xiong Acquires Mixed-Use Property On Fort Lauderdale Beach For $3.998M

3100 Northeast 9th Street

$3,998,000

$486/SF

Building Size

8,218 SF

Asset Type

Mixed-use

Closing

Jul 29, 2022

AI

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.

Players

Ryan Shaw

Marcus & Millichap

Broker

$145.7M

vol

22 deals

Broker

Wanli Xiong

Buyer

$18.1M

vol

2 deals

Buyer

Fort Lauderdale Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93