Andrew Smith Acquires Retail Property In Fort Lauderdale For $3.15M
SOLD
$3,150,000
Florida
See Similar DealsRetail3,566 SF
Sold 04/03/2024
SOLD
Andrew Smith Acquires Retail Property In Fort Lauderdale For $3.15M
3950 North Federal Highway
See Similar DealsRetail3,566 SF
Sold 04/03/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$883
Total Square Footage:3,566 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$168,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,191.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,932.61
Annual Debt Service$179,191.28
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