Chapter Two Investments Acquires Fort Lauderdale Retail Property For $40.5M
1300 Southeast 17th Street, Fort Lauderdale, Florida, USA
$40,500,000
$442/SF
Building Size
91,634 SF
Asset Type
Retail
Closing
Oct 22, 2021
About this deal
AI
1300-1430 SE 17th Street, a retail property with 8.22 acres of land, was sold in Fort Lauderdale. The transaction took place on October 22, 2021. The property was purchased by Chapter Two Investments, with Steven Hudson representing Hudson Capital Group and Charles Ladd Jr. representing Barron Commercial Development. The seller of the property was Andrew L. Martin.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $40,500,000
- Square Footage: 91,634
- Price Per Square Foot: $442
Steven Hudson, from Hudson Capital Group, and Charles Ladd Jr., from Barron Commercial Development, were the key individuals representing the buyer in this transaction. They played a significant role in the acquisition of the property on behalf of Chapter Two Investments.
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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93