Updated Oct 28, 2024
Alliance Residential Acquires 2.76-Acre Development Site In Boynton Beach For $10M
112 Federal Highway, Boynton Beach, Florida 33435, United States
$10,000,000
$1,341/SF
Building Size
7,456 SF
Asset Type
Development Site
Closing
Apr 7, 2022
About this deal
AI
An approximately 2.76-acre development site located at 112 S Federal Highway in Boynton Beach has been sold in a recent transaction. The property was purchased by Alliance Residential at a sale price of $10,000,000. The seller of the site was 112 South Federal Highway Inc., Sara N. Garcia MD PA, Howard R. Spencer, Christopher N. Chiodo, Maria Ruggeri, DSS Properties LC, Joseph W. Scaggs, Francisco A. Solis, Downtown Properties of South Florida LLC, and Bowen Inc.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $10,000,000
- Address: 112 S Federal Highway, Boynton Beach
- Market: Boynton Beach
- Buyer: Alliance Residential
- Seller: 112 South Federal Highway Inc., Sara N. Garcia MD PA, Howard R. Spencer, Christopher N. Chiodo, Maria Ruggeri, DSS Properties LC, Joseph W. Scaggs, Francisco A. Solis, Downtown Properties of South Florida LLC, Bowen Inc.
The sale of this development site highlights the involvement of Alliance Residential as the buyer. The seller, 112 South Federal Highway Inc., Sara N. Garcia MD PA, Howard R. Spencer, Christopher N. Chiodo, Maria Ruggeri, DSS Properties LC, Joseph W. Scaggs, Francisco A. Solis, Downtown Properties of South Florida LLC, and Bowen Inc., represented the sellers in the transaction.
Players
Boynton Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
About $1.3K per square foot on a published $10M for 7,456 square feet (2022).
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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