June 36 Properties Acquires Retail Property In Fort Lauderdale For $7.1M
2860 N Federal Hwy, Fort Lauderdale, FL, USA
$7,075,000
$262/SF
Building Size
27,000 SF
Asset Type
Retail
Closing
May 13, 2021
AI
The retail property located at 2860 North Federal Hwy in Fort Lauderdale has been sold. The transaction took place on May 14, 2021, with a sale price of $7,075,000. The property has a total area of approximately 27,000 square feet, resulting in a price per square foot of $262. The lot size is approximately 48,000 square feet.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $7,075,000
- Address: 2860 North Federal Hwy, Fort Lauderdale
- Market: Fort Lauderdale
- Buyer: June 36 Properties - Sebastian Guejman
- Seller: 2860 North Federal Highway
- Buyer's Representative: Jose Sasson-Lerner - Axiom Capital Advisors
- Seller's Representative: Roberto Susi - Axiom Capital Advisors
The sale of the property was facilitated by Axiom Capital Advisors, with Jose Sasson-Lerner representing the buyer, June 36 Properties, and Roberto Susi representing the seller.
Players
Fort Lauderdale 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
2.24%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93