Margit Brandt Acquires Land In West Palm Beach For $9.3M With Premier Estate Properties
4401 South Flagler Drive, West Palm Beach, Florida 33405, United States
$9,315,000
$593/SF
Building Size
15,700 SF
Asset Type
—
Closing
May 31, 2022
About this deal
AI
An undisclosed property in West Palm Beach has been sold for $9,315,000, according to public records. The property, located at 4401 S Flagler Drive, is a land asset measuring approximately 15,700 square feet. The transaction took place on June 1, 2022, with Margit Brandt from Premier Estate Properties representing both the buyer and seller. The property was initially listed for $9,999,000, resulting in a final sale price of $593 per square foot.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $9,315,000
- Date: 06/01/2022
- Address: 4401 S Flagler Drive, West Palm Beach
- Market: West Palm Beach
- Buyer & Seller's Representative: Margit Brandt - Premier Estate Properties
- Asking Price: $9,999,000
- Square Footage: 15,700
- Price per Square Foot: $593
Margit Brandt, a representative from Premier Estate Properties, played a significant role in facilitating this transaction. Their expertise in the West Palm Beach market contributed to the successful sale. This sale showcases the continued strong demand for land assets in the area, with the property being sold below the initial asking price.
West Palm 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
1.70%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93