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
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.
Players
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