Native Realty Secures Multiple Leases For Motif Mixed-Use Building In Fort Lauderdale's Flagler Village
500 North Andrews Avenue
Building Size
15,325 SF
Asset Type
Retail
Closing
Aug 21, 2023
AI
The property involved in this lease transaction is a retail space located at 500 North Andrews Avenue in Fort Lauderdale. The property spans approximately 15,325 square feet and is situated in the Fort Lauderdale market.
Summary of transation details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 500 North Andrews Avenue
- Market: Fort Lauderdale
- Square Footage: 15,325 SF
Jaime Sturgis and Kaley Tuning, brokers from Native Realty, played a key role in securing the lease for this retail space. The tenants who will occupy the retail and restaurant spaces at Motif, a mixed-use apartment building in Fort Lauderdale's Flagler Village, include Olivia restaurant, BFT Fitness, Salon Lofts, and Dog Drop. With the addition of these new tenants, the ground-floor retail and restaurant space at Motif is now over 97% occupied, catering to the building's apartment residents.
Players
Avenue Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93