FORTEC Acquires Special Purpose Property In Palm Beach Gardens For $5.3M
10300 Riverside Drive, Palm Beach Gardens, Florida 33410, United States
$5,300,000
$394/SF
Building Size
13,446 SF
Asset Type
—
Closing
Aug 4, 2022
AI
Located in Palm Beach Gardens, the property at 10300-10350 Riverside Dr has been sold in a special purpose transaction. The deal was closed on 08/05/2022.
Summary of transaction details
- Property Type: Special Purpose
- Transaction Amount: $5,300,000
- Address: 10300-10350 Riverside Dr
- Market: Palm Beach Gardens
The buyer of the property is FORTEC. The deal was facilitated by the broker Reichel Realty & Investments along with Colliers representing the buyer. The sale price for the property was $5,300,000 with a total square footage of 13,446, resulting in a price per square foot of $394.
Players
Palm Beach Gardens CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93