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Paul Fazio Buys Retail Property From Kenneth Minkin For $2.25M

Property Image
SOLD
$2,250,000
Matthew Albregts
Jonathan De La Rosa
Eduardo "Eddie" Toledo

Florida

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Retail1,388 SF
Sold 05/30/2024
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Property Image
SOLD

Paul Fazio Buys Retail Property From Kenneth Minkin For $2.25M

8579 Pines Boulevard

See Similar Deals
Retail1,388 SF
Sold 05/30/2024
Matthew Albregts
Jonathan De La Rosa
Eduardo "Eddie" Toledo
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,621
Total Square Footage:1,388 SF
Transaction Type:Sale

The property involved in the transaction is a retail asset located at 8579 Pines Boulevard in Pembroke Pines. The sale price for this property was $2,250,000, with a total square footage of 1,388, resulting in a price per square foot of $1,621.

Summary of transation details:

The buyer, Paul Fazio, has plans to repurpose the former Checkers building into a drive-thru coffee shop.

Players

Jonathan De La Rosa
Marcus & Millichap
Jonathan De La Rosa
143 deals$647.7M volume(786) 522-7027
BROKER
Eduardo "Eddie" Toledo
Marcus & Millichap
Eduardo Toledo
71 deals$361.9M volume(786) 522-7047
BROKER
Matthew Albregts
Marcus & Millichap
Matthew Albregts
25 deals$99.6M volume(305) 793-2826
BROKER

Details

SOLD
IMAGE: Eduardo Toledo, Jonathan De LaRosa & Matthew Albregts DATE: 05/30/2024 ADDRESS: 8579 Pines Boulevard MARKET: Pembroke Pines ASSET TYPE: Retail BUYER: Paul Fazio SELLER: Kenneth Minkin BROKERS: Jonathan De LaRosa (@J_DLR_), Matthew Albregts (@Matt_Albregts) & Eduardo Toledo (@EdToledo) - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $2,250,000 SF: 1,388 ~ PPSF: $1,621 NOTE FROM BROKERS: Former Checkers, Buyer has plans to repurpose the Building into a Drive Thru Coffee Shop

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

$120,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,993.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,666.15
Annual Debt Service$127,993.77