A multi-tenant retail space in Lauderdale Lakes has been sold in a closed transaction. The property, known as Lake Shops Plaza, is located at 2424-2464 N State Road. It encompasses a total area of 17,870 square feet and is situated in a bustling retail market. The asset type is retail, and it is currently fully occupied.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $4,559,000
• Address: 2424-2464 N State Road, Lauderdale Lakes
• Market: Lauderdale Lakes

Omar Limon emerged as the buyer in this deal. The transaction was facilitated by Luca Migliore from Gary Hennes Realtors. The purchase price for Lake Shops Plaza amounted to $4,559,000, which translates to a per square foot price of $255. The property is currently 100% occupied by eight tenants, including notable national tenants such as Pizza Hut, T Mobile, and Rent A Center.

All expenses related to the property are reimbursed by the tenants, and the property's current cap rate stands at 5.6%. Luca Migliore, representing Building Wealth Together, closed this transaction successfully.