MHCommercial Real Estate Fund Acquires Office At 2601 East Oakland Park Blvd In Fort Lauderdale For $11.75M
SOLD
$11,750,000
+ 3
Florida
See Similar DealsOffice59,942 SF
Sold 09/09/2019
SOLD
MHCommercial Real Estate Fund Acquires Office At 2601 East Oakland Park Blvd In Fort Lauderdale For $11.75M
2601 East Oakland Park Boulevard, Fort Lauderdale, FL, USA
See Similar DealsOffice59,942 SF
Sold 09/09/2019
+ 3
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$196
Total Square Footage:59,942 SF
Transaction Type:Sale
Netz USA LLC has sold an office property located at 2601 East Oakland Park Boulevard in Fort Lauderdale. The property spans a total area of 59,942 square feet and was sold for a price of $11,750,000, translating to approximately $196 per square foot.
Summary of transation details
- Property Type: Office
- Transaction Amount: $11,750,000
- Address: 2601 East Oakland Park Boulevard
- Market: Fort Lauderdale
The buyer of this property is MHCommercial Real Estate Fund. The sale transaction was facilitated by Cushman & Wakefield brokers including Scott O’Donnell, Dominic Montazemi, Greg Miller, Miguel Alcivar, Jason Hochman, and Michael Ciadella.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$626,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,745.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,700.99
Annual Debt Service$668,411.93
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