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
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.
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