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424 W Sunrise Blvd Fort Lau...

Chirag Patel Acquires Charter School On West Sunrise Boulevard For $4.75M
SOLDSchool

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

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.

Players

Mitash Kripalani

Colliers

Broker

$137.6M

vol

23 deals

Broker

Chirag Patel

Buyer

$27.2M

vol

4 deals

Buyer

Miami School Market Snapshot

Boundary boundary · School · Sale transactions

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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