Barron Real Estate, Inc Acquires Retail Property In Margate For $6.28M
3271 State Road 7, Margate, Florida 33068, United States
$6,280,000
$179/SF
Building Size
34,904 SF
Asset Type
Retail
Closing
Jan 31, 2022
About this deal
AI
A retail property located at 3271-3285 N. State Road 7 in Margate has been sold for $6,280,000. The property has a total area of 5.94 acres and consists of approximately 34,904 square feet. The sale price per square foot was $180. The transaction took place on February 1, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,280,000
- Address: 3271-3285 N. State Road 7, Margate
- Market: Margate
- Asset Type: Retail
- Acres: 5.94
The buyer of the property was Barron Real Estate, Inc, while the seller was Penn Dutch Plaza, LLC. The deal was facilitated by brokers David Duckworth, John K. Crotty, Michael T. Fay, and Brian C. de la Fé from Avison Young.
On the Map
$6,280,000
$179/SF
Retail
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Pompano Beach 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
2.53%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93