Journey Church Acquires Church In West Palm Beach From Community Of Hope Church For $9.995M
2341 South Military Trail
$9,995,000
$156/SF
Building Size
63,850 SF
Asset Type
Church
Closing
Jul 24, 2024
About this deal
AI
The property involved in this transaction is a church located at 2341 South Military Trail in West Palm Beach. The sale price of the asset was $9,995,000, and it encompasses a total square footage of 63,850. The price per square foot amounts to $156.
Summary of transation details:
- Property Type: Church
- Transaction Amount: $9,995,000
- Square Footage: 63,850
- Price Per Square Foot: $156
- Buyer: Journey Church
- Seller: Community of Hope Church
- Broker: Aaron Oken - The Oken Group - Signature International Premier Properties
The transaction was facilitated by broker Aaron Oken, representing The Oken Group of Signature International Premier Properties. The deal reflects the active engagement of both the buyer and the seller in the West Palm Beach market, showcasing the efforts of the brokerage in successfully concluding the sale.
West Palm Beach Church Market Snapshot
Boundary boundary · Church · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93