Ark Restaurants Acquires Retail Property In Deerfield Beach For $11M
300 Northeast 21st Avenue, Deerfield Beach, FL, USA
$11,000,000
$1,125/SF
Building Size
9,777 SF
Asset Type
Retail
Closing
Mar 22, 2021
About this deal
AI
Ark Restaurants has acquired a retail property in Deerfield Beach for $11,000,000. The property, located at 300 Northeast 21st Avenue, spans 9,777 square feet and sits on a 1.5-acre lot. The purchase price per square foot for this transaction was $1,125, while the price per acre was approximately $7,333,333.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $11,000,000
- Square Footage: 9,777
- Address: 300 Northeast 21st Avenue
- Market: Deerfield Beach
The seller of the property, known as Boyle Beach House and owned by John Boyle, was represented by Jaime Sturgis from Native Realty. Jaime Sturgis also acted as the broker in this deal. This transaction highlights Ark Restaurants' expansion into the retail sector in Deerfield Beach.
Players
Deerfield 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93