60 Mclean Avenue, LLC Acquires Office Property In Hollywood For $8.4M
SOLD
Florida
See Similar DealsOffice31,500 SF
Sold 08/11/2022
SOLD
60 Mclean Avenue, LLC Acquires Office Property In Hollywood For $8.4M
4600 Sheridan Street
See Similar DealsOffice31,500 SF
Sold 08/11/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$266
Total Square Footage:31,500 SF
Transaction Type:Sale
The office building located at 4600 Sheridan St in Hollywood has been sold in a closed transaction. The property spans 31,500 square feet and was sold for a price of $8,400,000, resulting in a price per square foot of $267.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $8,400,000
- Address: 4600 Sheridan St, Hollywood
- Market: Hollywood
The buyer of the property is 60 Mclean Avenue, LLC represented by Sid Newman, the manager of the company. On the other hand, the seller is Israel Sheridan Wells, LLC, represented by Ken Israel. The deal was facilitated by the brokers Steven Newman and Martine Newman of The Newman Group.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$448,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,843.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,820.29
Annual Debt Service$477,843.43
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