Marcus & Millichap Brokers Sell Palm Springs Commercial Property For $10.1M
SOLD
$10,100,000
Florida
See Similar DealsCommercial36,000 SF
Sold 01/26/2022
SOLD
Marcus & Millichap Brokers Sell Palm Springs Commercial Property For $10.1M
964 S Congress Ave, Palm Springs, FL 33406
See Similar DealsCommercial36,000 SF
Sold 01/26/2022
Summary
FLORIDA
Asset Type:Commercial
Price Per Square Foot:$280
Total Square Footage:36,000 SF
Transaction Type:Sale
964 S. Congress Ave in Palm Springs has been sold in a commercial transaction for $10,100,000. This property encompasses approximately 36,000 square feet, resulting in a price per square foot of $281.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $10,100,000
- Address: 964 S. Congress Ave
- Market: Palm Springs
- Brokers: Craig Johnson, Tim Giambrone & Ryan Nee - Marcus & Millichap
Craig Johnson, Tim Giambrone, and Ryan Nee from Marcus & Millichap represented the parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$538,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,883.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,879.15
Annual Debt Service$574,549.83
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