Fabian J. Martinez & Enrique Martinez Acquire Retail Property On Northpark Dr, Fort Lauderdale For $5.25M
1440 North Fort Lauderdale Beach Boulevard, Fort Lauderdale, FL, USA
$5,250,000
$343/SF
Building Size
15,297 SF
Asset Type
Retail
Closing
Oct 26, 2021
About this deal
AI
The retail property located at 1440 Northpark Dr in Fort Lauderdale has been sold for $5,250,000. The property spans 15,297 square feet, resulting in a price per square foot of $343.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,250,000
- Address: 1440 Northpark Dr, Fort Lauderdale
- Square Footage: 15,297
- Price per Square Foot: $343
- Buyer: Fabian J. Martinez & Enrique Martinez
- Seller: Christine Ferrari Tobin, John W. Bosa & Eric Kumerow
Fabian J. Martinez and Enrique Martinez were the buyers of the property, while Christine Ferrari Tobin, John W. Bosa, and Eric Kumerow were the sellers. The transaction represents a successful deal in the retail market of Fort Lauderdale.
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
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93