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Lease · Retail

Haley Presser Closes 5-Year Lease With Tire Kingdom In Tamarac
LEASEDRetail

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

Haley Presser

Levy Realty Advisors

Broker

1 deal

Broker

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