Daily limit: 0/10
Hong BBQ & Hot Pot Acquires Retail Property In Brandon From National Net Lease Portfolio
SOLD
$2,650,000
Florida
See Similar DealsRetail
Sold 05/15/2024
SOLD
Hong BBQ & Hot Pot Acquires Retail Property In Brandon From National Net Lease Portfolio
804 Providence Road
See Similar DealsRetail
Sold 05/15/2024
Summary
FLORIDA
Asset Type:Retail
Transaction Type:Sale
The retail property located at 804 Providence Road in Brandon was recently sold for $2,650,000. The asset was acquired by Hong BBQ & Hot Pot from National Net Lease Portfolio. The transaction took place on May 15, 2024.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,650,000
- Address: 804 Providence Road
- Market: Brandon
Eli Dioso of LandQwest Commercial represented the buyer, Hong BBQ & Hot Pot. Hong BBQ & Hot Pot, known for its Chinese hot pot and Korean-style barbecue restaurants, acquired the former Black Rock Bar & Grill location in Brandon as its fourth establishment in the area. The buyer, LLC Peng Tong, plans a complete interior renovation to align the design with its brand and anticipates an opening in about eight months. Hong BBQ & Hot Pot currently has locations in Tampa and Bradenton, with another opening soon in Lakeland.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$141,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,414.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,562.35
Annual Debt Service$150,748.22
Is there something missing? Send suggestions