Ripco Acquires Retail Property In Fort Lauderdale For $7M
941 Southeast 17th Street
$7,000,000
$1,263/SF
Building Size
5,540 SF
Asset Type
Retail
Closing
Dec 15, 2022
About this deal
AI
A retail property located at 941 Southeast 17th Street in Fort Lauderdale has been sold for a price of $7,000,000. The property spans a total of 5,540 square feet, resulting in a price per square foot of $1,264. The transaction took place on December 15, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,000,000
- Address: 941 Southeast 17th Street
- Market: Fort Lauderdale
The buyer's representatives in this transaction were Stephen R. Preuss Sr., Christian Allimonos, Andreas Efthymiou, Kevin Louie, and Kevin Schmitz from Ripco. They facilitated the deal for the brand new Absolute NNN Bank of America located at the Shoppes at Rio Vista in Fort Lauderdale.
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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93