Nexcar Acquires 2,678 SF Retail Property In Oakland Park From SAFCO For $3.5M
2980 Northwest 31st Avenue
$3,500,000
$1,306/SF
Building Size
2,678 SF
Asset Type
Retail
Closing
Apr 11, 2025
About this deal
AI
Nexcar acquired a 2,678 SF auto retail property located at 2980 Northwest 31st Avenue in Oakland Park for $3.5M. The property spans 1.77 acres and is zoned B-2, reflecting its suitability for retail operations.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,500,000
- Address: 2980 Northwest 31st Avenue
- Market: Oakland Park
- Acres: 1.77
- Square Footage: 2,678 SF
- Price Per Square Foot: $1,307
- Buyer: Nexcar
- Seller: SAFCO
- Broker: Ron Osborne - Sperry Commercial
Ron Osborne of Sperry Commercial facilitated the transaction, representing the seller, SAFCO, in this deal for the auto retail property in Oakland Park.
On the Map
$3,500,000
$1,306/SF
Retail
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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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93