Sam Jidd Luxury Acquires Retail Car Dealer In Plantation For $4M
SOLD
$4,000,000
Florida
See Similar DealsRetail8,791 SF
Sold 06/30/2022
SOLD
Sam Jidd Luxury Acquires Retail Car Dealer In Plantation For $4M
601 N State Road 7th, Plantation, Florida 33317, United States
See Similar DealsRetail8,791 SF
Sold 06/30/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$455
Total Square Footage:8,791 SF
Transaction Type:Sale
The retail car dealer located at 601 N State Rd 7 in Plantation has been sold for $4,000,000. The property spans 8,791 square feet, resulting in a price per square foot of $455.
Summary of transaction details
- Property Type: Retail Car Dealer
- Transaction Amount: $4,000,000
- Address: 601 N State Rd 7
- Market: Plantation
- Buyer: Sam Jidd Luxury - Sam Jidd
- Seller: LMP Motors
- Buyer's Rep: Federico Rojkes - United Realty Group
- Seller's Rep: John Ellis & JD Cohen - Newmark
The buyer, Sam Jidd Luxury represented by Federico Rojkes of United Realty Group, acquired the property from the seller, LMP Motors. The transaction between the two parties took place on June 30, 2022.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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