NBV Holiday Ranch LLC Acquires Mobile Home Park In West Palm Beach For $39.1M
1375 South Military Trail, West Palm Beach, Florida 33415, United States
$39,100,000
Units
274
Asset Type
—
Closing
Aug 16, 2022
About this deal
AI
A mobile home park located at 1375 S Military Trail & 1396 Ranch Road in West Palm Beach has been sold for a total price of $39,100,000. Spanning across 37.9 acres of land, the property consists of 274 units, with an average price per unit of $142,701.
Summary of transaction details:
- Property Type: Mobile Home Park
- Transaction Amount: $39,100,000
- Address: 1375 S Military Trail & 1396 Ranch Road, West Palm Beach
- Market: West Palm Beach
- Acres: 37.9
- Buyer: NBV Holiday Ranch LLC - BoaVide Group and Auburn & Nella Invest
- Seller: Mid-American Properties - Richard Placido
- Units: 274
- Price Per Unit: $142,701
The buyer, NBV Holiday Ranch LLC, is represented by BoaVide Group and Auburn & Nella Invest. The seller, Mid-American Properties, is represented by Richard Placido.
Players
West Palm Beach CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93