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Vidal Moreno Acquires Net Leased Retail Property In Oakland Park For $3.15M

Property Image
SOLD
$3,150,000
Brandon Holmes
Ahmed Kabani
+ 3

Florida

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Retail3,383 SF
Sold 04/07/2022
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Property Image
SOLD

Vidal Moreno Acquires Net Leased Retail Property In Oakland Park For $3.15M

1801 West Oakland Park Boulevard

See Similar Deals
Retail3,383 SF
Sold 04/07/2022
Brandon Holmes
Ahmed Kabani
+ 3
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$931
Total Square Footage:3,383 SF
Transaction Type:Sale

The net leased retail property located at 1801 W Oakland Park Blvd in Oakland Park has been sold. The transaction took place on April 7, 2022. The property spans 3,500 square feet with a price per square foot of $900. The sale price for the property was $3,150,000, resulting in a cap rate of 4.6%.

Summary of transaction details

  • Property Type: Net Leased Retail
  • Transaction Amount: $3,150,000
  • Cap Rate: 4.6%
  • Square Footage: 3,500
  • Price per Square Foot: $900
  • Address: 1801 W Oakland Park Blvd
  • Market: Oakland Park

The buyer of the property is Vidal Moreno, while Iqbal Panjwani is the seller. The transaction was facilitated by the brokers Jonathan De La Rosa, Brandon Holmes, Kian Mclean, and Ahmed Kabani from Marcus & Millichap.

Players

Jonathan De La Rosa
140 deals$624.6M volume(786) 522-7027
BROKER

Ahmed Kabani
Kabani Hotel Group
31 deals$346.8M volume
BROKER

Brandon Holmes
Marcus & Millichap
9 deals$36.1M volume
BROKER

Kian Mclean
Marcus & Millichap
8 deals$75.5M volume
BROKER


4 deals$15.2M volume
SELLER

Details

SOLD
IMAGE: Jonathan De La Rosa & Brandon Holmes DATE: 04/07/2022 ADDRESS: 1801 W Oakland Park Blvd MARKET: Oakland Park ASSET TYPE: Net Leased Retail BUYER: Vidal Moreno SELLER: Iqbal Panjwani BROKERS: Jonathan De La Rosa (@J_dlr_), Brandon Holmes, Kian Mclean & Ahmed Kabani (@TheKabanigroup) - Marcus & Millichap SALE PRICE: $3,150,000 Cap Rate: 4.6% SF: 3,500 ~ PPSF: $900

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

$168,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,191.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,932.61
Annual Debt Service$179,191.28