Shahid Sheikh Acquires Retail Property In Pembroke Pines For $6 Million From Tomas Pequeno
1301 North Palm Avenue
$6,000,000
$269/SF
Building Size
22,284 SF
Asset Type
MultiFamily
Closing
Oct 31, 2024
AI
The property asset involved in the transaction is a retail asset located at 1301 North Palm Avenue in Pembroke Pines. The sale price was $6,000,000, and the property encompasses an area of 22,284 square feet, amounting to a price per square foot of $269.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,000,000
- Address: 1301 North Palm Avenue
- Market: Pembroke Pines
- Seller: Tomas Pequeno
- Buyer: Shahid Sheikh
- Brokers: Jonathan De La Rosa & Matthew Albregts - Marcus & Millichap
- Square Footage: 22,284
- Price Per Square Foot: $269
Key individuals involved in the transaction include the buyer, Shahid Sheikh, and the seller, Tomas Pequeno, who participated in the agreement facilitated by the brokerage team of Jonathan De La Rosa and Matthew Albregts at Marcus & Millichap.
Players
Pembroke Pines MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93