PulteGroup Acquires Development Site In Palm Beach Gardens For $13.7M
SOLD
$13,700,000
Florida
See Similar DealsDevelopment Site
Sold 03/05/2021
SOLD
PulteGroup Acquires Development Site In Palm Beach Gardens For $13.7M
Avenir Dr, Palm Beach Gardens, FL, USA
See Similar DealsDevelopment Site
Sold 03/05/2021
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
A development site in Palm Beach Gardens has been sold for $13,700,000. The property, located on Avenir Dr, consists of 98 lots with a price per lot of $139,796. The transaction took place on March 5, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $13,700,000
- Address: Avenir Dr
- Market: Palm Beach Gardens
- Lots: 98
- Price Per Lot: $139,796
PulteGroup, represented by Brent Baker, acquired the property from Avenir Development LLC. Brent Baker acted as the buyer's representative in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$730,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,673.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,944.99
Annual Debt Service$779,339.87
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