Gerald P Katz & Michael R Rechter Acquire Retail Property In Fort Lauderdale For $2.95M
1140-1142 South Federal Highway, Fort Lauderdale, FL 33316, United States
$2,950,000
$1,058/SF
Building Size
2,788 SF
Asset Type
Retail
Closing
Oct 30, 2022
About this deal
AI
The retail property located at 1140-1142 S Federal Hwy in Fort Lauderdale, FL was recently sold. The transaction took place on October 31, 2022, and the property was purchased for a price of $2,950,000. The property has a total area of 2,788 square feet, with a price per square foot of $1,058.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,950,000
- Address: 1140-1142 S Federal Hwy, Fort Lauderdale, FL
- Market: Fort Lauderdale, FL
The buyers of the property are Gerald P Katz and Michael R Rechter. The sellers were Russell Wilson and Edward Wilson.
Players
Fort Lauderdale Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.38%
Cash-on-Cash
-1.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93