Plantation Shoppes Acquires Retail Property On Sunrise Blvd, Plantation, FL For $10.25M
1818 East Sunrise Boulevard, Fort Lauderdale, FL, USA
$10,250,000
$273/SF
Building Size
37,500 SF
Asset Type
Retail
Closing
Apr 19, 2021
About this deal
AI
An undisclosed retail property located at 1818-1860 Sunrise Blvd in Plantation, FL has been sold in a closed transaction. The property, spanning 37,500 square feet, was purchased by Plantation Shoppes from Core Plantation at a sale price of $10,250,000, resulting in a price per square foot of $273. The transaction included 7 acres of land, with 3.2 acres still undeveloped. The purchase equated to a price per acre of $1,464,286. The deal achieved a capitalization rate of 5.67%.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,250,000
- Market: Plantation, FL
- Square Footage: 37,500
- Address: 1818-1860 Sunrise Blvd
The transaction was facilitated by Elon Gerberg, Aaron O'Connor, and Douglas Mandel, who represented the buyer, seller, and brokers respectively.
On the Map
$10,250,000
$273/SF
Retail
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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
1.55%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93