RK Centers Acquires Retail Portfolio In Davie From Edens For $28.65M
SOLD
$28,650,000
Florida
See Similar DealsRetail79,276 SF
Sold 12/14/2021
SOLD
RK Centers Acquires Retail Portfolio In Davie From Edens For $28.65M
5780 South University Drive, Davie, Florida 33328, United States
See Similar DealsRetail79,276 SF
Sold 12/14/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$361
Total Square Footage:79,276 SF
Transaction Type:Sale
The retail property located at 5780, 5810, and 5840 S University Dr in Davie has been sold in a recent transaction. Spanning across 10.3 acres, this retail asset offers a total square footage of 79,276. The property was sold by Edens to RK Centers, with the deal facilitated by Dennis Carson from CBRE.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $28,650,000
- Address: 5780, 5810 & 5840 S University Dr
- Market: Davie
- Square Footage: 79,276
Andrew Zidar represented RK Centers as the buyer in this transaction. Meanwhile, Dennis Carson from CBRE acted as the broker in the deal. The sale price for the property was $28,650,000, resulting in a price per square foot of $361.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,528,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$101,787.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$135,815.62
Annual Debt Service$1,629,787.40
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