Richard M. Norwalk Acquires Cropland/Farm In Boynton Beach, FL For $60M
SOLD
$60,000,000
Florida
See Similar Deals14,360 SF
Sold 02/10/2022
SOLD
Richard M. Norwalk Acquires Cropland/Farm In Boynton Beach, FL For $60M
11050 State Road 7, Boynton Beach, Florida 33473, United States
See Similar Deals14,360 SF
Sold 02/10/2022
Summary
FLORIDA
Price Per Square Foot:$4,178
Total Square Footage:14,360 SF
Transaction Type:Sale
A cropland/farm located at 11050 S State Road 7 in Boynton Beach, FL has been sold. The transaction took place on 02/10/2022 at a sale price of $60,000,000. The property spans an area of 14,360 square feet, resulting in a price per square foot of $4,178.
Summary of transaction details
- Property Type: Cropland/Farm
- Transaction Amount: $60,000,000
- Address: 11050 S State Road 7, Boynton Beach, FL
- Market: Boynton Beach, FL
The buyer of the property is Richard M. Norwalk, while the sellers are John I Whitworth IV, Glenn Sr Whitworth Wade, Glenn Whitworth Wade Jr, Thomas I Whitworth, Savannah Rose Whitworth, Mary W Whitworth, John I Whitworth III, and Carol C Whitworth.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,199,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$213,167.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$284,430.61
Annual Debt Service$3,413,167.33
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