Benderson Development Acquires Retail Property In Pompano Beach For $7.1M
SOLD
$7,100,000
Florida
See Similar DealsRetail28,300 SF
Sold 07/31/2023
SOLD
Benderson Development Acquires Retail Property In Pompano Beach For $7.1M
1140 SW 36th Ave Pompano Beach, FL 33069, USA
See Similar DealsRetail28,300 SF
Sold 07/31/2023
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$250
Total Square Footage:28,300 SF
Transaction Type:Sale
A retail property located at 1140 Southwest 36th Avenue in Pompano Beach has been sold for $7,100,000. The property spans 28,300 square feet, resulting in a price-per-square-foot of $251. The transaction took place on July 31, 2023.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,100,000
- Square Footage: 28,300
- Price per Square Foot: $251
- Address: 1140 Southwest 36th Avenue, Pompano Beach
Benderson Development acquired the property from Thomas Neary, who represented the Neary Family Office. The deal was facilitated by Evan Whelan and Josh Symonette of the TD Commercial Group, acting as brokers.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$378,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,224.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,657.62
Annual Debt Service$403,891.47
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