Ron Osborne, Managing Director/Broker of Sperry – RJ Realty, represented the Buyer, a major investor within the Hallandale Blvd. market, in the purchase of a former used-car dealership located at 3901 W. Hallandale Beach Blvd, in West Park, Florida.

The deal closed  August 19.

While the property is currently a used car dealership, it is a non-conforming use, and the city will not permit the use in the future.

Sperry – RJ Realty was one of several brokerages vying for the listing, however, the ownership decided to move forward with another brokerage due to a personal relationship.

Within a day of his initial meeting with the Seller, Osborne brought in a contract at 95% of list price of $895,000 with a non-contingent, 30-day closing other than clear and marketable title with the full contract price placed in escrow. The transaction was scheldued to close in less than 30 days, however, the only thing that delayed the closing was the seller’s inability to deliver the property with clean title due to several code violations which needed to be resolved before closing.  The Seller was unable to resolve one of the code issues and Osborne was able to persuade his client to purchase the property with the code issue and negotiated a discounted price.

“We always recommend that a seller considers ordering a code, lien and open permit search when they list a property,” explained Osborne. “If the owner has owned the property for many years, we also may recommend doing a title search to ensure clean title can be conveyed.  This way, if there are any issues, they can be addressed before a contract is negotiated.”

Osborne has represented the investor previously. They own the properties that border the subject property on both sides and have plans to redevelop them.

“It is all about knowing the right buyer for a property, and knowing what can be done with it in the future,” added Osborne. “This area has gone through and is continuing to go through major changes.”

Osborne has been working the Broward County Market since 1978 and is a top producer in the Sperry Commercial Global Affiliates (SPERRY).  When thinking of selling, hire the best broker for the job, not the one that you’re friends with.

The property was listed by Gus Martinez of KW Commercial.