RK Centers Acquires Retail Property In Plantation For $17M
550 North Pine Island Road, Plantation, FL, USA
$17,000,000
$377/SF
Building Size
45,000 SF
Asset Type
Retail
Closing
Mar 18, 2021
AI
Located at 550 N. Pine Island Road in Plantation, this retail property was sold on March 19, 2021. The asset spans approximately 45,000 square feet with a price per square foot of $378. The transaction took place on a 4.2-acre lot, valued at $4,047,619 per acre.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $17,000,000
- Market: Plantation
- Buyer: RK Centers
- Seller: Regency Centers
- Broker: Adam Feinstein - Cushman & Wakefield
Adam Feinstein from Cushman & Wakefield represented the buyer, RK Centers, and facilitated the sale of this retail property in Plantation.
Players
Plantation 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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93