Robert Rivani's Black Lion Acquires Retail Property On Hollywood's 4111 S Ocean Dr For $3.1M
4111 South Ocean Drive, Hollywood, Florida 33019, United States
$3,100,000
$516/SF
Building Size
6,000 SF
Asset Type
Retail
Closing
Dec 21, 2021
About this deal
AI
The retail asset is located at 4111 S Ocean Dr in Hollywood, featuring a sale price of $3,100,000. The property encompasses a total area of 6,000 square feet, yielding a price per square foot of $517.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,100,000
- Address: 4111 S Ocean Dr
- Market: Hollywood
- Square Footage: 6,000
- Price Per Square Foot: $517
- Buyer: Robert Rivani - Black Lion
- Brokers: Barrett Wolf & Wayne Odesnik - Wolf Co Real Estate
This transaction marks Black Lion's expansion into Broward County, with the acquisition noted as their second restaurant investment in a South Florida sbe-branded property within a six-month timeframe. Robert Rivani, president of Black Lion, expressed enthusiasm about collaborating with the renowned sbe brand to enhance the restaurant's appeal.
Players
Hollywood 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
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93