Fortec Sells Broward County Property With Two Schools For Higher Ground Education For $11.88M
2216 Hollywood Boulevard
$11,880,000
$698/SF
Building Size
17,000 SF
Asset Type
Retail
Closing
Feb 6, 2024
About this deal
AI
An abandoned property located at 2216 Hollywood Boulevard in Hollywood, Broward County, has been sold by Fortec for $11.88 million. The property, which spans 17,000 square feet, has been transformed into two schools for Higher Ground Education. The sale supports Fortec's nationwide expansion strategy, adding to their portfolio of 16 schools developed over the last three years.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $11,880,000
- Address: 2216 Hollywood Boulevard
- Market: Hollywood
- Square Footage: 17,000
- Price per Square Foot: $699
Milo Spector from Northmarq represented Fortec in the sale of the property.
On the Map
$11,880,000
$698/SF
Retail
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Hollywood 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
1.34%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93