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1301 North Palm Avenue

Tomas Pequeno Acquires Retail Property In Pembroke Pines For $5.2M
SOLDRetail

Tomas Pequeno Acquires Retail Property In Pembroke Pines For $5.2M

1301 North Palm Avenue

$5,200,000

$233/SF

Building Size

22,284 SF

Asset Type

Retail

Closing

Oct 21, 2022

AI

Tomas Pequeno has purchased a retail property located at 1301 N Palm Ave in Pembroke Pines. The property has a total square footage of 22,284 and was sold for $5,200,000, resulting in a price per square foot of $233. The transaction took place on 10/21/2022 and the seller of the property was Gene Davis.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $5,200,000
  • Square Footage: 22,284
  • Address: 1301 N Palm Ave, Pembroke Pines
  • Market: Pembroke Pines

The buyer of the property, Tomas Pequeno, was represented by Jonathan De La Rosa and Matthew Albregts from Marcus & Millichap. They assisted in the successful acquisition of the retail property. Gene Davis, the seller, completed the transaction with Tomas Pequeno.

Players

Jonathan De La Rosa

Marcus & Millichap

Broker

$669.3M

vol

147 deals

Broker

Tomas Pequeno

Buyer

$38.5M

vol

4 deals

Buyer

Gene Davis

Seller

$11M

vol

2 deals

Seller

Miami Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.05%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93