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Pelican Bays LLC Acquires Office Property In Davie For $50M

Property Image
SOLD
$50,000,000
Josh Levy
Alan Levy

Florida

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Office197,000 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Pelican Bays LLC Acquires Office Property In Davie For $50M

4990 Southwest 52nd Street, Davie, Florida 33314, United States

See Similar Deals
Office197,000 SF
Sold
Josh Levy
Alan Levy
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$253
Total Square Footage:197000 SF
Transaction Type:Sale

An office property located at 4990 SW 52nd St in Davie has been sold for a total price of $50,000,000. The transaction took place on 07/12/2022 and involved a total square footage of 197,000. The property was sold by Charles Rowar, Trustee to Pelican Bays LLC. The sale price per square foot was calculated at $254.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $50,000,000
  • Address: 4990 SW 52nd St, Davie
  • Market: Davie
  • Buyer: Pelican Bays LLC
  • Seller: Charles Rowar, Trustee
  • Brokers: Alan Levy & Josh Levy - Levy Realty Advisors
  • Square Footage: 197,000
  • Price Per Square Foot: $254

Alan Levy & Josh Levy from Levy Realty Advisors served as the brokers in this deal, representing both the buyer, Pelican Bays LLC, and the seller, Charles Rowar, Trustee. This transaction signifies a significant investment in the office market in Davie.

Players

Alan Levy
Levy Realty Advisors
Alan Levy
2 deals$66.8M volume
BROKER
Josh Levy
Levy Realty Advisors
Josh Levy
3 deals$102.2M volume
BROKER

Details

SOLD
IMAGE: Alan Levy & Josh Levy DATE: 07/12/2022 ADDRESS: 4990 SW 52nd St MARKET: Davie ASSET TYPE: Office BUYER: Pelican Bays LLC SELLER: Charles Rowar, Trustee BROKERS: Alan Levy & Josh Levy - Levy Realty Advisors SALE PRICE: $50,000,000 SF: 197,000 ~ PPSF: $254

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,666,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11