Christian Angle Real Estate Acquires Development Site In Palm Beach For $11.975M
SOLD
$11,975,000
Florida
See Similar DealsDevelopment Site23,000 SF
Sold 07/17/2020
SOLD
Christian Angle Real Estate Acquires Development Site In Palm Beach For $11.975M
1332 N Ocean Blvd, Palm Beach, FL 33480, USA
See Similar DealsDevelopment Site23,000 SF
Sold 07/17/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$520
Total Square Footage:23,000 SF
Transaction Type:Sale
The development site located at 1332 North Ocean Boulevard in Palm Beach has been sold for a price of $11,975,000. The property has a building square footage of 23,000 and a price per building square footage of $520.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11,975,000
- Building Square Footage: 23,000
- Price per Building Square Footage: $520
- Address: 1332 North Ocean Boulevard, Palm Beach
- Market: Palm Beach
The buyer's representative for this transaction is Christian Angle from Christian Angle Real Estate. On the other hand, the seller's representatives are Linda Gary from Linda A. Gary Real Estate and Geoffrey Darnell from Brown Harris Stevens.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$638,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,544.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,767.61
Annual Debt Service$681,211.31
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