GDF Properties Acquires Office Building In Fort Lauderdale For $6.3M
SOLD
$6,300,000
Florida
See Similar DealsOffice63,266 SF
Sold 01/16/20
SOLD
GDF Properties Acquires Office Building In Fort Lauderdale For $6.3M
5410 Northwest 33rd Avenue, Fort Lauderdale, FL, USA
See Similar DealsOffice63,266 SF
Sold 01/16/20
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$99
Total Square Footage:63,266 SF
Transaction Type:Sale
An office property located at 5410-5430 Northwest 33rd Avenue in Fort Lauderdale has been sold in a closed transaction. The property, spanning 63,266 square feet, was sold for a price of $6,300,000, resulting in a price per square foot of $99. The transaction took place on January 17, 2020.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,300,000
- Square Footage: 63,266
- Price per Square Foot: $99
- Market: Fort Lauderdale
The seller of the office property was Liberty Property Trust, while the buyer was GDF Properties. The deal was facilitated by brokers Jonathan Salk from Axiom Capital Advisors and Reshma Parvani from Parvani Commercial Group.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$336,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57
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