Hotels Of Pompano Beach Acquires Development Site In Pompano Beach For $4.1M
599 Federal Highway, Pompano Beach, Florida 33062, United States
$4,100,000
Building Size
—
Asset Type
Development Site
Closing
Nov 16, 2022
AI
A development site located at 599 N Federal Hwy in Pompano Beach has been sold for a price of $4,100,000. The property spans 48,379 square feet and has a price per square foot of $85. The transaction took place on 11/16/2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,100,000
- Address: 599 N Federal Hwy, Pompano Beach
- Market: Pompano Beach
- Buyer: Hotels of Pompano Beach - Neal Patel
- Seller: Macmillan Real Estate - Danny Alonso
- Brokers: Ivo Tsinev & Jorge Alvarino - Horizon Properties of Miami
The buyer in this transaction is Hotels of Pompano Beach, represented by Neal Patel. The seller is Macmillan Real Estate, represented by Danny Alonso. The brokers involved in the deal are Ivo Tsinev and Jorge Alvarino from Horizon Properties of Miami.
NOTE FROM @IvayloTsinev: We specialize in retail sales, multifamily/hotel/self-storage development sites. We have on and off-market deals. Call us with all your property needs.
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Pompano Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93