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Wesley Powell & Nancy Gardner Acquire Store In Fort Lauderdale, FL For $64M

Property Image
SOLD
$64,000,000
SK
Raanan Katz
NG
+ 1

Florida

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Retail103,806 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Wesley Powell & Nancy Gardner Acquire Store In Fort Lauderdale, FL For $64M

927 North Federal Highway

See Similar Deals
Retail103,806 SF
Sold
SK
Raanan Katz
NG
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$616
Total Square Footage:103806 SF
Transaction Type:Sale

The property asset involved in this transaction is a store located at 901-927 N Federal Hwy in Fort Lauderdale, FL. It was sold on June 3, 2022.

Summary of transaction details

  • Property Type: Store
  • Transaction Amount: $64,000,000
  • Square Footage: 103,806
  • Price per Square Foot: $616
  • Address: 901-927 N Federal Hwy, Fort Lauderdale, FL
  • Market: Fort Lauderdale, FL

The buyers in this transaction were Wesley Powell & Nancy Gardner. They purchased the property from Sabra Katz, Raanan Katz & Daniel Katz.

Players

Raanan Katz
RK Centers
Raanan Katz
18 deals$641.7M volume
BROKER
Daniel Katz
KPR Centers
Daniel Katz
9 deals$700.1M volume(212) 710-9362
BROKER
NG
Nancy Gardner
2 deals$84M volume
BUYER
SK
Sabra Katz
2 deals$84M volume
SELLER
Daniel Katz
Daniel Katz
9 deals$700.1M volume
SELLER

Details

SOLD
IMAGE: 06/03/2022 ADDRESS: 901-927 N Federal Hwy MARKET: Fort Lauderdale, FL ASSET TYPE: Store BUYER: Wesley Powell & Nancy Gardner SELLER: Sabra Katz, Raanan Katz & Daniel Katz PRICE: $64,000,000 SF: 103,806 ~ PPSF: $616

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,413,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$227,378.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$303,392.65
Annual Debt Service$3,640,711.82