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Retail Property In Margate, FL Sold For $4.57M By Ripco And RPS Capital Management

Property Image
SOLD
$4,570,000
Kevin Schmitz
Kevin Louie
Andreas Efthymiou
+ 2

Florida

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Retail2,462 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Retail Property In Margate, FL Sold For $4.57M By Ripco And RPS Capital Management

5671 West Atlantic Boulevard

See Similar Deals
Retail2,462 SF
Sold
Kevin Schmitz
Kevin Louie
Andreas Efthymiou
+ 2
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$1856
Total Square Footage:2462 SF
Transaction Type:Sale

A retail property located at 5671 West Atlantic Boulevard in Margate, FL has been sold for $4,570,000. The property spans 2,462 square feet and was sold at a price per square foot of $1,856.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $4,570,000
  • Address: 5671 West Atlantic Boulevard
  • Market: Margate, FL
  • Square Footage: 2,462
  • Price per Square Foot: $1,856

The sale of this retail property was facilitated by the following individuals:

Players

Kevin Louie
Ripco
Kevin Louie
123 deals$1B volume(718) 663-2642
BROKER
Andreas Efthymiou
Ripco
Andreas Efthymiou
126 deals$1.1B volume
BROKER
Stephen R. Preuss Sr.
Ripco
Stephen R. Preuss Sr.
254 deals$2B volume(718) 663-2639
BROKER
Kevin Schmitz
Ripco
Kevin Schmitz
108 deals$827.3M volume
BROKER
Robert Sharfstein
RPS Capital Management
Robert Sharfstein
12 deals$70.5M volume
BROKER

Details

SOLD
IMAGE: Stephen R. Preuss Sr., Kevin Louie, Kevin Schmitz, Andreas Efthymiou & Robert Sharfstein DATE: 11/20/2023 ADDRESS: 5671 West Atlantic Boulevard MARKET: Margate, FL ASSET TYPE: Retail BROKERS: Stephen R. Preuss Sr. (@RipcoInvestmentSales), Kevin Louie (@Kevin.Louie_Investment_Sales), Kevin Schmitz (@Kevin.Schmitz_CRE), Andreas Efthymiou (@Andreas.E_Investment_Sales) - Ripco (@RipcoRealEstate) & Robert Sharfstein - RPS Capital Management SALE PRICE: $4,570,000 SF: 2,462 ~ PPSF: $1,856

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$243,733.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$16,236.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,664.13
Annual Debt Service$259,969.58