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3311 West Hillsboro Bouleva...

Marcos Puente, Gabriel Navarro, Evan Mouhalis, And Shai Wolkowicki Acquire Retail Property In Deerfield Beach For $2.65M
SOLDRetail

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

John VanLith

JLL

Broker

$2.7M

vol

1 deal

Broker
Matthews
Matthews Brokerage

Evan Mouhalis

Buyer

$26.7M

vol

6 deals

Buyer
Bank of America
Bank of AmericaSeller
Bank of America
Bank of AmericaLender

Deerfield Beach Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

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