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

The retail property located at 702 NE 1st Ave in Fort Lauderdale, FL, was sold for $4,250,000. The asset spans 8,864 square feet and was purchased by Judith Strachman Rev. Living Trust. The property is currently home to Chops & Hops Axe Throwing Lodge, Ft. Liquordale Entertainment, and Crossed Keys Society. The buyer acquired the property from Barkan Investments in a transaction closed on September 12.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $4,250,000.00
• Address: 702 NE 1st Ave, Fort Lauderdale, FL
• Market: Fort Lauderdale
• Buyer: Judith Strachman Rev. Living Trust
• Buyer's Representative: Ron Osborne (Sperry Commercial Global Affiliates I RJ Realty)

Ron Osborne, serving as the Managing Director/Broker of SperryCGA | RJ Realty, represented The Strachman Family in this transaction. The buyer, Judith Strachman Rev. Living Trust, was attracted to the property's location in Flagler Village in Fort Lauderdale. The property's current rents are perceived to be below market rates, indicating potential for increased value over time. The trust opted for this property due to the presence of two tenants on the main floor and Crossed Keys Society on the second floor, providing a promising investment opportunity.