Marcos Puente, Gabriel Navarro, Evan Mouhalis, And Shai Wolkowicki Acquire Retail Property In Deerfield Beach For $2.65M
SOLD
$2,650,000
Florida
See Similar DealsRetail8,500 SF
Sold 10/22/2021
SOLD
Marcos Puente, Gabriel Navarro, Evan Mouhalis, And Shai Wolkowicki Acquire Retail Property In Deerfield Beach For $2.65M
3311 West Hillsboro Boulevard, Deerfield Beach, FL, USA
See Similar DealsRetail8,500 SF
Sold 10/22/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$311
Total Square Footage:8,500 SF
Transaction Type:Sale
A retail property located at 3311 West Hillsboro Boulevard in Deerfield Beach has been sold for $2,650,000. The property spans 8,500 square feet, resulting in a price per square foot of $312. The transaction took place on October 22, 2021. The seller of the property was Bank of America.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,650,000
- Square Footage: 8,500
- Price Per Square Foot: $312
- Address: 3311 West Hillsboro Boulevard
- Market: Deerfield Beach
The buyer of the property is a partnership between Marcos Puente, Gabriel Navarro, Evan Mouhalis, and Shai Wolkowicki. Representing the buyer is Daniel Solomon from Katz & Associates. John VanLith from JLL acted as the seller's representative in the transaction.
It is noteworthy that the former Bank of America located at the intersection of West Hillsboro Boulevard and Powerline Rd is set to undergo redevelopment through a partnership between MMG, MCM, and GW Properties.
Players
BROKERAGE
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$141,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,414.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,562.35
Annual Debt Service$150,748.22
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