Richard Salter Acquires Store Property In Fort Lauderdale For $7.4M
3370 Northeast 34th Street, Fort Lauderdale, Florida 33308, United States
$7,400,000
$277/SF
Building Size
26,651 SF
Asset Type
Retail
Closing
Apr 7, 2022
About this deal
AI
The property involved in the transaction is a store located at 3302-3370 NE 34th St in Fort Lauderdale, FL. The property has a size of 26,651 square feet and was sold for a price of $7,400,000, resulting in a price per square foot of $277.
Summary of transaction details
- Property Type: Store
- Transaction Amount: $7,400,000
- Address: 3302-3370 NE 34th St, Fort Lauderdale, FL
- Square Footage: 26,651
- Price per Square Foot: $277
In this transaction, the buyer is Richard Salter, and the sellers are Frank J. Rella and Michelle Rella.
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
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93