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4401 South Flagler Drive, W...

Updated Dec 21, 2023

Margit Brandt Acquires Land In West Palm Beach For $9.3M With Premier Estate Properties
SOLD

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.

Players

Margit Brandt

Premier Estate Properties

Broker

$1.8B

vol

61 deals

Broker

West Palm Beach CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Deal FAQ

About $593 per square foot on a published $9.3M for 15,700 square feet (2022).

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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

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