Tricera Capital Acquires Flagler Village Retail Asset In Fort Lauderdale For $18.3M
SOLD
$18,250,000
Florida
See Similar DealsRetail32,000 SF
Sold 01/28/2022
SOLD
Tricera Capital Acquires Flagler Village Retail Asset In Fort Lauderdale For $18.3M
900 North Flagler Drive, Fort Lauderdale, Florida 33304, United States
See Similar DealsRetail32,000 SF
Sold 01/28/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$570
Total Square Footage:32,000 SF
Transaction Type:Sale
The property involved in the transaction is a retail asset located at 900-924 N. Flagler Drive and 723-737 NE Second Ave. in Flagler Village, Fort Lauderdale. It comprises approximately 32,000 square feet of space. The transaction took place on January 28, 2022, and the property was sold for a total of $18,250,000, equating to a price per square foot of $570.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $18,250,000
- Date: January 28, 2022
- Address: 900-924 N. Flagler Drive & 723-737 NE Second Ave., Flagler Village, Fort Lauderdale
- Square Footage: 32,000
The seller of the property is Tricera Capital, represented by Scott Sherman and Ben Mandell.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$973,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$64,838.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,514.31
Annual Debt Service$1,038,171.73
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