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
About this deal
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
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