Pacific Star Capital Acquires Retail Property On Hallandale Beach Boulevard For $58M
SOLD
Florida
See Similar DealsRetail65,000 SF
Sold 09/02/2022
SOLD
Pacific Star Capital Acquires Retail Property On Hallandale Beach Boulevard For $58M
600 East Hallandale Beach Boulevard, Hallandale Beach, Florida 33009, United States
See Similar DealsRetail65,000 SF
Sold 09/02/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$892
Total Square Footage:65,000 SF
Transaction Type:Sale
On September 2, 2022, a retail property located at 600 East Hallandale Beach Boulevard in Hallandale Beach was sold for a total of $58,000,000. The property sits on approximately 8 acres and spans a total of 65,000 square feet. The sale price amounted to $892 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $58,000,000
- Address: 600 East Hallandale Beach Boulevard
- Market: Hallandale Beach
- Size: 65,000 square feet
Pacific Star Capital, represented by Aria Mehrabi and David Walker, acquired the property from Château Group, represented by Manuel Grosskopf. The deal concluded successfully, marking an important transaction in the retail market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,093,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$206,061.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$274,949.59
Annual Debt Service$3,299,395.08
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