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
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