MMG Equity Partners Acquires Retail Property In Plantation For $17.1M
SOLD
$17,100,000
+ 2
Florida
See Similar DealsRetail55,530 SF
Sold 12/20/2021
SOLD
MMG Equity Partners Acquires Retail Property In Plantation For $17.1M
234 South University Drive, Plantation, Florida 33328, United States
See Similar DealsRetail55,530 SF
Sold 12/20/2021
+ 2
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$307
Total Square Footage:55,530 SF
Transaction Type:Sale
A retail property located at 234-268 S University Drive & 120-150 S University Drive in Plantation has been sold for a total price of $17,100,000. The property spans across 55,530 square feet, resulting in a price per square foot of $308. The transaction was completed on December 20, 2021. The property features a prime location in the Plantation market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $17,100,000
- Address: 234-268 S University Drive & 120-150 S University Drive
- Square Footage: 55,530
- Price per Square Foot: $308
- Market: Plantation
The buyer of the property is MMG Equity Partners, represented by Gabe Navarro & Marcos Puente. The seller of the property is Marvin Feinstein. In the transaction, David Donnellan & Patricia Friend from CBRE acted as the seller's representatives.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$912,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,752.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$81,062.72
Annual Debt Service$972,752.69
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