South Florida Innovative Office LLC Acquires Office In Fort Lauderdale For $4.8M
SOLD
$4,800,000
Florida
See Similar DealsOffice38,707 SF
Sold 03/11/2020
SOLD
South Florida Innovative Office LLC Acquires Office In Fort Lauderdale For $4.8M
1000 NW 65th St, Fort Lauderdale, FL 33309, USA
See Similar DealsOffice38,707 SF
Sold 03/11/2020
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$124
Total Square Footage:38,707 SF
Transaction Type:Sale
Located at 1000 N.W. 65th Street in Fort Lauderdale, this office property was recently sold for $4,800,000. The transaction took place on March 11, 2020, and involved a total area of 38,707 square feet. The price per square foot for this sale was $124. The buyer of the property was South Florida Innovative Office LLC, while the seller was Bright Angel Inc. The deal was facilitated by brokers Steve Hyatt & Brian Batchelder from Berger Commercial Realty/CORFAC.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,800,000
- Address: 1000 N.W. 65th Street, Fort Lauderdale
- Market: Fort Lauderdale
Steve Hyatt & Brian Batchelder from Berger Commercial Realty/CORFAC played a crucial role in facilitating this transaction. Their expertise and extensive knowledge of the market ensured a successful deal for both the buyer and seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$256,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39
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