Chirag Patel Acquires Charter School On West Sunrise Boulevard For $4.75M
424 W Sunrise Blvd Fort Lauderdale, FL 33311, USA
$4,750,000
$346/SF
Building Size
13,694 SF
Asset Type
School
Closing
Jul 25, 2023
About this deal
AI
Located at 424 West Sunrise Boulevard in Fort Lauderdale, this property asset involved in the transaction is a charter school. The sale price for this property is $4,750,000, with a total square footage of 13,694. The price per square foot is $347, reflecting the value of this educational facility.
Summary of transaction details
- Property Type: Charter School
- Transaction Amount: $4,750,000
- Square Footage: 13,694
- Price per Square Foot: $347
- Date: 07/25/2023
- Address: 424 West Sunrise Boulevard, Fort Lauderdale
Chirag Patel is the buyer in this transaction. The brokers involved in the deal are David Richman from DWNTWN Realty Advisors and Mitash Kripalani from Colliers International. These individuals played pivotal roles in facilitating the sale of this charter school property.
On the Map
$4,750,000
$346/SF
School
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.34%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93