MMG Equity Partners Acquires Retail Property In Plantation For $12M
SOLD
$12,000,000
Florida
See Similar DealsRetail65,796 SF
Sold 05/24/2020
SOLD
MMG Equity Partners Acquires Retail Property In Plantation For $12M
1723 North University Drive, Plantation, FL, USA
See Similar DealsRetail65,796 SF
Sold 05/24/2020
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$182
Total Square Footage:65,796 SF
Transaction Type:Sale
The retail property located at 1723-1797 N University Drive in Plantation has been sold for a price of $12,000,000. The property spans across 65,796 square feet and has a price per square foot of $182. The sale took place on May 24, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,000,000
- Address: 1723-1797 N University Drive, Plantation
- Market: Plantation
- Buyer: MMG Equity Partners - Marcos Puente
- Seller: Marvin Feinstein
- Square Footage: 65,796
- Price per Square Foot: $182
The buyer of the property is MMG Equity Partners and Marcos Puente, representing the buyer, facilitated the transaction. The seller of the property is Marvin Feinstein. The deal was completed on May 24, 2021, with Marcos Puente as the buyer's representative. The transaction involved a retail asset in the Plantation market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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