Shawnick Galleria LLC Acquires Retail Property In Fort Lauderdale For $17.1M
SOLD
$17,100,000
Florida
See Similar DealsRetail24,807 SF
Sold 11/16/2021
SOLD
Shawnick Galleria LLC Acquires Retail Property In Fort Lauderdale For $17.1M
2414 E Sunrise Blvd, Fort Lauderdale, FL, USA
See Similar DealsRetail24,807 SF
Sold 11/16/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$689
Total Square Footage:24,807 SF
Transaction Type:Sale
A retail property located at 2414 E Sunrise Blvd in Fort Lauderdale has been sold for $17,100,000. The property spans 24,807 square feet, resulting in a price per square foot of $689. The sale took place on November 16, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $17,100,000
- Address: 2414 E Sunrise Blvd, Fort Lauderdale
- Market: Fort Lauderdale
The buyer of the property is Shawnick Galleria LLC, and the seller is Stiles Corp. Representing the buyer in this transaction are David Donnellan and Patricia Friend from CBRE. On the seller's side, CBRE's David Donnellan and Patricia Friend were the brokers involved.
CBRE's Paul Ahmed and Mackenzie Lampman acted as mortgage brokers in this sale.
Players
SELLER
Details
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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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