Hitesh Patel & Mayank Patel Acquire Restaurant/Bar In Pompano Beach,FL For $3.6M
SOLD
$3,600,000
Florida
See Similar DealsRetail3,005 SF
Sold 08/05/2022
SOLD
Hitesh Patel & Mayank Patel Acquire Restaurant/Bar In Pompano Beach,FL For $3.6M
1750 North Federal Highway, Pompano Beach, Florida 33062, United States
See Similar DealsRetail3,005 SF
Sold 08/05/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,198
Total Square Footage:3,005 SF
Transaction Type:Sale
The restaurant/bar located at 1750 N Federal Hwy in Pompano Beach, FL has been sold in a recent transaction. The property spans 3,005 square feet and was sold for a total price of $3,600,000, resulting in a price per square foot of $1,198.
Summary of transaction details:
- Property Type: Restaurant/Bar
- Transaction Amount: $3,600,000
- Address: 1750 N Federal Hwy, Pompano Beach, FL
- Market: Pompano Beach, FL
The buyers for this property were Hitesh Patel and Mayank Patel, while the sellers were Neal Menaged and Rose Christine Menaged.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$192,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04
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