Updated Oct 28, 2024
Palm Point Paradise Acquires Development Site In Hallandale Beach For $4.75M
501 Palm Drive, Hallandale Beach, FL, USA
$4,750,000
$110/SF
Building Size
43,160 SF
Asset Type
Development Site
Closing
May 13, 2021
About this deal
AI
Alan Chocron of Compass Real Estate facilitated the sale of a development site located at 501 Palm Dr in Hallandale Beach. The property spans 43,160 square feet and was sold for a price of $4,750,000, resulting in a price per square foot of $110.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,750,000
- Address: 501 Palm Dr
- Market: Hallandale Beach
- Buyer: Palm Point Paradise
- Seller: Angel Holding
- Broker: Alan Chocron - Compass Real Estate
In addition to the sale, Alan Chocron of Compass Real Estate has plans to develop three brand new waterfront homes on the property.
Players
Hallandale Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.34%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93