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702 NE 1 Ave, Fort Lauderda...

Judith Strachman Rev. Living Trust Acquires Retail Property In Fort Lauderdale For $4.25M
SOLDRetail

Judith Strachman Rev. Living Trust Acquires Retail Property In Fort Lauderdale For $4.25M

702 NE 1 Ave, Fort Lauderdale, Florida 33304, United States

$4,250,000

$479/SF

Building Size

8,864 SF

Asset Type

Retail

Closing

Sep 11, 2022

AI

The retail property located at 702-706 NE 1 Ave in Fort Lauderdale was recently sold for $4,250,000. The sale took place on 09/12/2022 and the property spans a total of 8,864 square feet, resulting in a price per square foot of $479. The buyer of the property was the Judith Strachman Rev. Living Trust, while Barkan Investments acted as the seller. Ron Osborne from SperryCGA | RJ Realty represented the buyer, while Native Realty represented the seller in the transaction.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $4,250,000
  • Address: 702-706 NE 1 Ave, Fort Lauderdale
  • Market: Fort Lauderdale
  • Square Footage: 8,864
  • Price per Square Foot: $479
  • Buyer: Judith Strachman Rev. Living Trust
  • Seller: Barkan Investments
  • Buyer's Representative: Ron Osborne - SperryCGA | RJ Realty
  • Seller's Representative: Native Realty

The sale of this retail property was facilitated by Ron Osborne from SperryCGA | RJ Realty, who represented the buyer, Judith Strachman Rev. Living Trust. Native Realty acted as the representative for the seller, Barkan Investments. This transaction demonstrates notable interest in the Fort Lauderdale market for retail properties.

Players

Ron Osborne

Sperry Commercial Global Affiliates I RJ Realty

Broker

$56.8M

vol

17 deals

Broker

Judith Strachman

Rev. Living Trust

Buyer

$22.7M

vol

5 deals

Buyer

Fort Lauderdale 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

3.73%

Cash-on-Cash

-1.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93