Charlie Skandrani And Ezra Skandrani Acquire Retail Property In Pompano Beach For $2M

The retail property sold is located at 801-815 S Dixie Hwy W in Pompano Beach, featuring a total square footage of 13,400. The sale price was $2,000,000, which reflects a price per square foot of $149. This transaction was executed despite challenges including no financial documentation due to the seller’s father's passing, as well as zero leases, significant deferred maintenance, open permits, violations, and an overdue 40-year recertification.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,000,000
• Sale Price per Square Foot: $149
• Square Footage: 13,400
• Buyer: Charlie Skandrani & Ezra Skandrani
• Seller: Charles Cookson
• Brokers: Elon Gerberg, Adam H. Klein & Patrick Horrocks - The ROI Group - SVN Commercial Partners
• Cap Rate: 3.1%
• Contract Period: 45 days

The brokers involved in this transaction are Elon Gerberg, Adam H. Klein, and Patrick Horrocks, representing The ROI Group at SVN Commercial Partners. They successfully navigated the complexities of the sale, securing a contract and closing within a short timeframe despite the numerous challenges faced. The ROI Group at SVN Commercial Partners is open to discussions for those considering selling their commercial properties, urging potential sellers to contact their team for appraisals.