Tricera Capital Acquires Flagler Village Retail Asset In Fort Lauderdale For $18.3M
900 North Flagler Drive, Fort Lauderdale, Florida 33304, United States
$18,250,000
$570/SF
Building Size
32,000 SF
Asset Type
Retail
Closing
Jan 27, 2022
AI
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.
Players
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
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93