Hitesh Patel & Mayank Patel Acquire Restaurant/Bar In Pompano Beach,FL For $3.6M
1750 North Federal Highway, Pompano Beach, Florida 33062, United States
$3,600,000
$1,198/SF
Building Size
3,005 SF
Asset Type
Retail
Closing
Aug 4, 2022
About this deal
AI
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.
On the Map
$3,600,000
$1,198/SF
Retail
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Pompano Beach 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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93