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Baldridge-Renton LLC Acquires Retail Property In Pompano Beach For $6M

Property Image
SOLD
$6,000,000

Florida

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Retail27,295 SF
Sold 02/12/2020
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Property Image
SOLD

Baldridge-Renton LLC Acquires Retail Property In Pompano Beach For $6M

651 South Federal Highway, Pompano Beach, FL, USA

See Similar Deals
Retail27,295 SF
Sold 02/12/2020
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$219
Total Square Footage:27,295 SF
Transaction Type:Sale

Located at 651 South Federal Highway in Pompano Beach, this retail property was recently sold in a closed transaction on February 12, 2020. The property, encompassing 27,295 square feet, was purchased by Baldridge-Renton LLC (Baldridge Properties) from SunTrust - Allison McLeod for a total price of $6,000,000. With a price per square foot of $219, this retail asset offers a great investment opportunity.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $6,000,000
  • Address: 651 South Federal Highway, Pompano Beach
  • Buyer: Baldridge-Renton LLC (Baldridge Properties)
  • Seller: SunTrust - Allison McLeod
  • Square Footage: 27,295
  • Price per Square Foot: $219

Baldridge-Renton LLC, represented by Baldridge Properties, acquired this retail property from SunTrust - Allison McLeod. This transaction highlights the successful collaboration between the buyer and seller, resulting in a favorable outcome for both parties involved. The deal not only signifies the strong presence of investment opportunities in Pompano Beach's retail market but also demonstrates the expertise and professionalism of the respective parties' representatives.

Players

4 deals$75M volume
SELLER

Details

SOLD
IMAGE: 02/12/2020 ADDRESS: 651 South Federal Highway MARKET: Pompano Beach ASSET TYPE: Retail BUYER: Baldridge-Renton LLC (Baldridge Properties) SELLER: SunTrust - Allison McLeod PRICE: $6,000,000 SF: 27,295 ~ PPSF: $219

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$319,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73