Haley Presser Closes 5-Year Lease With Tire Kingdom In Tamarac
$30
$30/SF
Building Size
8,475 SF
Asset Type
Retail
Closing
May 23, 2024
AI
The retail property located at 6440 West Commercial Boulevard in Tamarac, with a total square footage of 8,475, was leased to Tire Kingdom for a 5-year term at an asking rent of $30 per square foot, amounting to a total lease value of $1,302,000.00. The end cap bay features frontage on Commercial Blvd, multiple overhead doors, and is zoned for automotive use.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,302,000.00
- Address: 6440 West Commercial Boulevard
- Market: Tamarac
- Tenant: Tire Kingdom
- Landlord: Nanyang Wang - Jin Yang Real Estate Corp.
- Broker: Haley Presser - Levy Realty Advisors, LLC
Haley Presser of Levy Realty Advisors, LLC, acted as the broker representing the landlord in the deal, facilitating the 5-year lease agreement with Tire Kingdom for the retail space. The property's end cap bay, featuring multiple overhead doors and automotive zoning, proved to be an attractive option for the tenant.
Players
Market 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
528766.67%
Cash-on-Cash
-151123.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93