Geneva Group Acquires Medical Office In Royal Palm Beach For $15M
1011 N State Rd 7, Royal Palm Beach, FL 33411, USA
$15,000,000
$426/SF
Building Size
35,200 SF
Asset Type
—
Closing
May 26, 2022
About this deal
AI
A medical office property located at 1011-1021 North State Road 7 in Royal Palm Beach has been sold for a price of $15,000,000. The property spans approximately 35,200 square feet, resulting in a price per square foot of $426. The transaction took place on May 27, 2022.
Summary of transation details:
- Property Type: Medical Office
- Transaction Amount: $15,000,000
- Address: 1011-1021 North State Road 7, Royal Palm Beach
- Market: Royal Palm Beach
The buyer of the property was Geneva Group represented by Jarred Elmar and VM Petro, while the seller was Robert, Patricia, Grant, and Tucker Elliott. The lender involved in the transaction was Southstate Bank.
On the Map
$15,000,000
$426/SF
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93