Brandon Kochen & Richard E. Lamondin Acquire Pompano Beach Hotel For $5M
SOLD
$5,000,000
Florida
See Similar DealsHotel10,673 SF
Sold 06/01/2022
SOLD
Brandon Kochen & Richard E. Lamondin Acquire Pompano Beach Hotel For $5M
4211 Federal Highway, Pompano Beach, Florida 33308, United States
See Similar DealsHotel10,673 SF
Sold 06/01/2022
Summary
FLORIDA
Asset Type:Hotel
Price Per Square Foot:$468
Total Square Footage:10,673 SF
Transaction Type:Sale
The hotel/motel/hostel/B&B located at 4211 N Federal Hwy in Pompano Beach, FL has been sold in a recent transaction. The property spans a total of 10,673 square feet, with a price per square foot of $468. The sale took place on June 1, 2022, and the transaction amount was $5,000,000.
Summary of transaction details
- Property Type: Hotel/Motel/Hostel/B&B
- Transaction Amount: $5,000,000
- Square Footage: 10,673
- Price per Square Foot: $468
- Address: 4211 N Federal Hwy, Pompano Beach, FL
The buyers of the property are Brandon Kochen and Richard E. Lamondin, while the sellers are Nishi Mallick and Shreya Mallick.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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