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Ron Osborne, Managing Director/Broker of Sperry CGA-RJ Realty, negotiated the sale of an auto repair facility located at 770 N State Road 7 in Plantation, Florida.

Osborne represented both sides of the transaction, including seller, DOXATO LLC, and Buyer, GCDC 2 LLC, in the transaction. Osborne sourced the buyer from Argentina, an entity he had previously worked with.

The property consists of a 17,000-square-foot site with a 4,408 square foot fully functional auto repair facility with 3 overhead doors with room for 7- 8 lifts. The property was formally used as a transmission shop.

The deal closed December 29, 2021.

The total transaction has a value of $1,509,000, or $342 per square foot, which includes the real estate and chattel mortgage on the equipment.

“The Seller approached a neighboring property owner and offered him the property, who is a current client,” explained Osborne. “Knowing that I am the Automotive Property specialist in the area, he referred the owner to me. Our biggest challenge in the sale was tenant’s right of first refusal on the lease, however it was written that the tenant had to match the offer exactly.  Since our Buyer presented an all-cash offer with proof of funds for the purchase price and a very large deposit, that stipulation became a non-issue.”

The deal represented Osborne’s sixth automotive transaction in Broward County in 2021, with all of the sales or leases transactions closing at the top of the market.

Sperry CGA-RJ Realty will be leasing and managing the property.

“The current tenant will be vacating sometime late January and we should be able to deliver the space first of March,” Osborne said.

Offering rent will be $28.00 NNN.

Limousines of South Florida is extending its reach in Broward County by purchasing a car dealership in Lauderdale Lakes for $7 million.

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720 N State Road 7

Ron Osborne of RJ Realty completed another auto dealership transaction in the State Road 7 corridor in Plantation.

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RJ Realty is pleased to announce that it has been selected to market for sale Haims Motors Lauderdale Lakes dealership.  The property is located at 2000 N. State Road 7.

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Ron Osborne, President and Broker at RJ Realty, announced the sale of a used car lot located at 1080 NW 31 Avenue in unincorporated Broward County, across from the Swap Shop.

Osborne represented the Seller, E-Z Deal Inc., in the $920,000 purchase. The transaction closed on January 5.

This is the second transaction Osborne has closed with this Buyer, which is planning on converting the site to a high-end car wash facility.  The first transaction closed in June 2017.

Osborne, who has completed numerous car lot sales in the last 18 months, explained, “Due to the changes that many of the cities are marking in zoning has caused prices for car lots, and many similar uses, to increase geometrically provided the properties have the proper zoning.  Properties that have the correct uses are selling at a 10% -30% premium over properties that are grandfathered in for the use countywide.”

Osborne believes that this trend will continue as long as the use continues to be removed from the zoning codes along the major arteries.  Today, it is nearly impossible to find a used car lot along State Road 7 south of Sunrise for under $50 per square foot.

The property consists of a 1,970-square-foot auto showroom situated on a 23,000-square-foot lot.

The Buyer, 1080 NW 31 Ave, LLC, was represented by Erica Mizrahi of Keter Estates.

 

Ronald W. Osborne, Broker/President of RJ Realty, has negotiated the sale of 1955 S. State Road 7.

1955 S SR 7 LLC purchased the asset from 1955 S. State Road 7, LLC, a company affiliated with the ownership of Apple Auto Wholesalers of Florida, the used car dealership that operated on property.

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Ron OsborneBroker/President of RJ Realty, has been selected to market for sale two of the largest independent used car dealerships in Broward County.

Both properties allow for 250 to 300 vehicles and are situtated on 1.8 acres each, within the greater Plantation submarket in the Automotive Mall district.

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Ron Osborne of RJ Realty announced the sale of 601 N State Road 7 in Plantation. The property consists of a 9,000-square-foot auto showroom on 1.5 acres.

Osborne represented the seller, Mount Sinai Real Estate. The property sold for $3,150,000.

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Ronald W. Osborne inked a new long-term lease transaction valued at over $1 million with a Midas franchisee at the 5,977-square-foot free-standing auto repair facility located at 2936 N. State Road 7 in Margate.

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