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RK Centers Acquires Miramar Retail Property For $15.68M From Phillips Edison & Co

Property Image
SOLD
$15,680,000
Dennis Carson
Andrew Zidar

Florida

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Retail72,258 SF
Sold 09/17/2021
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Property Image
SOLD

RK Centers Acquires Miramar Retail Property For $15.68M From Phillips Edison & Co

17051 Miramar Parkway, Miramar, FL, USA

See Similar Deals
Retail72,258 SF
Sold 09/17/2021
Dennis Carson
Andrew Zidar
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$217
Total Square Footage:72,258 SF
Transaction Type:Sale

The retail property located at 17051 Miramar Parkway in Miramar has been sold in a recent transaction. The property spans an area of 9.33 acres and was valued at $1,680,600 per acre. The sale was facilitated by Dennis Carson of CBRE.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $15,680,000
  • Address: 17051 Miramar Parkway, Miramar
  • Market: Miramar
  • Acres: 9.33
  • Price per Acre: $1,680,600

The buyer in this transaction is RK Centers, represented by Andrew Zidar. The seller is Phillips Edison & Co. The property spans a total square footage of 72,258, with a price per square foot of $217.

Players

Dennis Carson
CBRE
Dennis Carson
14 deals$419.3M volume
BROKER
RK Centers
RK Centers
BROKERAGE
Andrew Zidar
RK Centers
Andrew Zidar
6 deals$150.6M volume
BUYER
PC
Philips Edison & Co.
SELLER

Details

SOLD
IMAGE: Dennis Carson DATE: 09/17/2021 ADDRESS: 17051 Miramar Parkway MARKET: Miramar ASSET TYPE: Retail ~ ACRES: 9.33 ~ PPA: $1,680,600 BUYER: RK Centers - Andrew Zidar SELLER: Phillips Edison & Co. BROKER: Dennis Carson - CBRE SALE PRICE: $15,680,000 SF: 72,258 ~ PPSF: $217

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$836,266.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$55,707.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$74,331.20
Annual Debt Service$891,974.39