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2300 West Oakland Park Boul...

Eric Shulman & Joe Spicer Acquire Retail Property In Oakland Park For $4.1M
SOLDRetail

Eric Shulman & Joe Spicer Acquire Retail Property In Oakland Park For $4.1M

2300 West Oakland Park Boulevard & 2350 West Oakland Park Boulevard

$4,100,000

$102/SF

Building Size

40,000 SF

Asset Type

Retail

Closing

Jan 9, 2024

AI

The retail property located at 2300-2350 West Oakland Park Boulevard in Oakland Park has been sold for a price of $4,100,000. The property spans a total area of 20,000 square feet, resulting in a price per square foot of $205. The transaction corresponds to a capitalization rate of 3.43%. The buyer of the property is Eric Shulman and Joe Spicer, while the seller is Marc Matut.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $4,100,000
  • Address: 2300-2350 West Oakland Park Boulevard
  • Market: Oakland Park

The sale of the property was facilitated by Elon Gerberg, Adam H. Klein, and Cleveland Sainpreux of SVN acting as representatives for the seller. The deal attracted significant interest, with 7 offers received within a span of 21 days from the start of the marketing process. For more information, interested parties can contact the ROI Group at SVN. Additionally, Elon Gerberg, Adam H. Klein, and Cleveland Sainpreux can be reached via email or phone.

Players

Adam H. Klein

Vision Real Estate Advisors

Broker

$129.8M

vol

38 deals

Broker

Marc Matut

Seller

$6.8M

vol

2 deals

Seller

Oakland Park 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

3.87%

Cash-on-Cash

-1.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93