AAA Liquor Outlet owner buys building

BUYER: Rani Enterprises LLC (principal: Lalit Patel), Bradenton

SELLER: Mildred Finklestein

PROPERTY: 2175 E. 60th Ave., Ellenton

PRICE: $1.05 million

PREVIOUS PRICE: $160,000, September 1993

LAW FIRM ON DEED: Feldman & Roback Attorneys at Law, Bradenton

PLANS, DESCRIPTION: Lalit Patel of Bradenton purchased a 4,800-square-foot retail building near U.S. 301 for $1.05 million. The price equated to $219 per square foot.

Patel's AAA Liquor Outlet has leased the building for the past three years.

“The business has done really good while we've been there,” Patel says. “We used to be across the street for eight years, but since we've been here business had boomed.”

Patel says the building offers his business much better visibility to traffic coming from the Ellenton Prime Outlets mall.

Plus with commercial real estate prices low, Patel says the purchase should save his business $500 a month compared to renting it.

The purchase entity Rani Enterprises LLC mortgaged the property to Regions Bank for $731,000.