Marcus & Millichap Brokers Sell Palm Springs Commercial Property For $10.1M
964 S Congress Ave, Palm Springs, FL 33406
$10,100,000
$280/SF
Building Size
36,000 SF
Asset Type
Commercial
Closing
Jan 25, 2022
AI
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.
Players
West Palm Beach Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.57%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93