Chirag Patel Acquires Charter School On West Sunrise Boulevard For $4.75M
SOLD
$4,750,000
Florida
See Similar DealsSchool13,694 SF
Sold 07/25/2023
SOLD
Chirag Patel Acquires Charter School On West Sunrise Boulevard For $4.75M
424 W Sunrise Blvd Fort Lauderdale, FL 33311, USA
See Similar DealsSchool13,694 SF
Sold 07/25/2023
Summary
FLORIDA
Asset Type:School
Price Per Square Foot:$346
Total Square Footage:13,694 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$253,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,875.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,517.42
Annual Debt Service$270,209.08
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