Michael Reiter Acquires Retail Property In Pompano Beach For $5.3M
3000 North State Road 7, Pompano Beach, Florida 33063
$5,292,857
$341/SF
Building Size
15,493 SF
Asset Type
Retail
Closing
Aug 29, 2022
About this deal
AI
The retail property located at 3000 N State Road 7 in Pompano Beach, FL has been sold in a recent transaction. The property spans a total of 15,493 square feet and was sold for a price of $5,292,857, resulting in a price per square foot of $341.
Summary of transaction details:
- Property Type: Retail
- Sale Date: 08/30/2022
- Address: 3000 N State Road 7, Pompano Beach, FL
- Buyer: Michael Reiter
- Seller: John Standley & Brian Brown
- Total Price: $5,292,857
- Square Footage: 15,493
- Price Per Square Foot: $341
Michael Reiter was the buyer in this transaction, while John Standley and Brian Brown served as the sellers. The successful sale of this retail property demonstrates the ongoing activity and value within the Pompano Beach, FL real estate market.
Players
Miramar 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
3.00%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93