Andrew Smith Acquires Retail Property In Fort Lauderdale For $3.15M
3950 North Federal Highway
$3,150,000
$883/SF
Building Size
3,566 SF
Asset Type
Retail
Closing
Apr 3, 2024
AI
The property at 3950 North Federal Highway in Fort Lauderdale was sold in a recent transaction. The retail asset spans 3,566 square feet and was sold for $3,150,000, equating to a price per square foot of $883.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,150,000
- Buyer: Andrew Smith - MedAmerica Employees, Inc.
- Seller: Daniel Alcabo - Neiman & Interian
- Broker: Frank Navarro - Douglas Elliman
In this deal, Andrew Smith from MedAmerica Employees, Inc. acquired the property from Daniel Alcabo of Neiman & Interian, with representation from broker Frank Navarro of Douglas Elliman.
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
5.04%
Cash-on-Cash
-1.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93