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
$2,650,000
$311/SF
Building Size
8,500 SF
Asset Type
Retail
Closing
Oct 22, 2021
AI
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
Deerfield 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
5.99%
Cash-on-Cash
-1.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93