facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Florida

/

Industrial

/

Sale

/

1200 Clare Avenue

Updated Dec 4, 2024

Tracy Turco Acquires Industrial Property For $1.975M From Paragon Systems Integration In West Palm Beach
SOLDIndustrial

Tracy Turco Acquires Industrial Property For $1.975M From Paragon Systems Integration In West Palm Beach

1200 Clare Avenue

$1,975,000

$4,047/SF

Building Size

488 SF

Asset Type

Industrial

Closing

Oct 15, 2024

About this deal

AI

The property involved in the transaction is an industrial asset located at 1200 Clare Avenue in the West Palm Beach market. The sale price was $1,975,000 for a total area of approximately 488 square feet, resulting in a price per square foot of $4,047.

Summary of transation details:

Tracy Turco, a well-known entrepreneur, author, and designer, will utilize the property, referred to as The Deco Palm, as both an event venue and the headquarters for Palm Scene magazine. Paragon Systems Integration, the seller, is an HTA Certified company that specializes in audio-video technology, smart home automation, and home theater solutions, with a strong presence in multiple locations including Palm Beach and Los Angeles.

On the Map

Open live map

$1,975,000

$4,047/SF

Industrial

View full map

Players

Paul Bergman

Douglas Elliman

Broker

$20.7M

vol

3 deals

Broker
Bilt advertisement

West Palm Beach Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Deal FAQ

About $4K per square foot on a published $2M for 488 square feet (2024).

Visit Paul Bergman to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.03%

Cash-on-Cash

-2.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets