Marcus & Millichap Sells University Commons Retail Property In Tamarac For $14.8M
6702 N University Dr Tamarac, FL 33321, USA
$14,765,000
$184/SF
Building Size
80,224 SF
Asset Type
Retail
Closing
Aug 23, 2023
About this deal
AI
University Commons, an 80,224 sq ft retail property located at 6702 North University Drive in Tamarac, was recently sold for $14.8 million. The property is well-positioned in the market and features strong traffic, with Quince Supermarket as its anchor tenant and CVS Pharmacy as its shadow anchor. The sale price equates to a price per square foot of $184.
Summary of transation details
- Property Type: Retail
- Sale Price: $14,765,000
- Square Footage: 80,224 sq ft
- Market: Tamarac
- Brokers: Kirk Olson & Drew Kristol - Marcus & Millichap
Marcus & Millichap facilitated the transaction, representing both the buyer and the seller. Kirk Olson and Drew Kristol, brokers from Marcus & Millichap, played a key role in the successful sale of University Commons. This deal showcases the expertise and efficiency of the brokerage team in executing a deal of this magnitude.
Players
Gibsonton 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
1.07%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93