Richard M. Norwalk Acquires Cropland/Farm In Boynton Beach, FL For $60M
11050 State Road 7, Boynton Beach, Florida 33473, United States
$60,000,000
$4,178/SF
Building Size
14,360 SF
Asset Type
—
Closing
Feb 9, 2022
AI
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.
Players
Boynton Beach 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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93