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Asana Partners Acquires Office Building In Fort Lauderdale For $10M

Property Image
SOLD
$10,000,000
Jaime Sturgis
MW
Terry Brown
+ 2

Florida

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Office24,771 SF
Sold 07/20/2022
the dealplayerscompscontact
Property Image
SOLD

Asana Partners Acquires Office Building In Fort Lauderdale For $10M

707 Northeast 3rd Avenue

See Similar Deals
Office24,771 SF
Sold 07/20/2022
Jaime Sturgis
MW
Terry Brown
+ 2
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$403
Total Square Footage:24,771 SF
Transaction Type:Sale

The office property located at 707 NE 3rd Ave in Fort Lauderdale has been sold for $10,000,000. The property spans 24,771 square feet, resulting in a price per square foot of $404. The sale was facilitated by Jaime Sturgis of Native Realty.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $10,000,000
  • Address: 707 NE 3rd Ave, Fort Lauderdale
  • Market: Fort Lauderdale

The buyer in this transaction is Asana Partners. Represented by Terry Brown, Sam Judd, and Jason Tompkins. The seller of the property is Michael Wiggins. The sale was brokered by Jaime Sturgis from Native Realty.

Players

Jaime Sturgis
Native Realty
Jaime Sturgis
47 deals$234.1M volume
BROKER
Terry Brown
Asana Partners
Terry Brown
5 deals$169.4M volume
BUYER
Sam Judd
Asana Partners
Sam Judd
6 deals$31.1M volume
BUYER
Jason Tompkins
Asana Partners
Jason Tompkins
3 deals$10M volume
BUYER
MW
Michael Wiggins
2 deals$12.8M volume
SELLER

Details

SOLD
IMAGE: Jaime Sturgis DATE: 07/20/2022 ADDRESS: 707 NE 3rd Ave MARKET: Fort Lauderdale ASSET TYPE: Office BUYER: Asana Partners - Terry Brown, Sam Judd & Jason Tompkins SELLER: Michael Wiggins BROKER: Jaime Sturgis (@JaimeSturgis) - Native Realty (@NativeRealty) SALE PRICE: $10,000,000 SF: 24,771 ~ PPSF: $404

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

$533,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22