Lisa Q Metts, Richard Heaton, And Evan Mccord Acquire Office Building In Fort Lauderdale, FL For $57.4M
SOLD
$57,409,244
Florida
See Similar DealsOffice12,398 SF
Sold 10/01/2021
SOLD
Lisa Q Metts, Richard Heaton, And Evan Mccord Acquire Office Building In Fort Lauderdale, FL For $57.4M
545 N Andrews Ave, Fort Lauderdale, Florida, USA
See Similar DealsOffice12,398 SF
Sold 10/01/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$4,630
Total Square Footage:12,398 SF
Transaction Type:Sale
The office property located at 545 N Andrews Ave in Fort Lauderdale, FL has been sold in a transaction that took place on October 1, 2021. The property spans 12,398 square feet and was sold for a price of $57,409,244, resulting in a price per square foot of $4,631. The buyer of the property is Lisa Q Metts, Richard Heaton, and Evan McCord, while the seller is Alan C. Hooper.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $57,409,244
- Address: 545 N Andrews Ave, Fort Lauderdale, FL
- Market: Fort Lauderdale, FL
- Square Footage: 12,398
- Buyer: Lisa Q Metts, Richard Heaton, Evan McCord
- Seller: Alan C. Hooper
- Price per Square Foot: $4,631
The sale of this office property was facilitated by Lisa Q Metts, Richard Heaton, and Evan McCord. They represented the buyer in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,061,826.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$203,962.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$272,149.11
Annual Debt Service$3,265,789.26
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