facebook
Traded Co logo
Submit

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

Property Image
SOLD
$1,975,000
Paul Bergman
Gloria Giudici

Florida

See Similar Deals
Industrial488 SF
Sold 10/15/2024
the dealplayerscompscontact
Property Image
SOLD

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

1200 Clare Avenue

See Similar Deals
Industrial488 SF
Sold 10/15/2024
Paul Bergman
Gloria Giudici
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$4,047
Total Square Footage:488 SF
Transaction Type:Sale

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.

Players

Paul Bergman
Douglas Elliman
Paul Bergman
3 deals$20.7M volume(310) 498-4883
BROKER
Gloria Giudici
Douglas Elliman
Gloria Giudici
1 deal$2M volume(561) 801-1535
BROKER

Details

SOLD
IMAGE: Tracy Turco, Paul Bergman & Gloria Giudici DATE: 10/15/2024 ADDRESS: 1200 Clare Avenue MARKET: West Palm Beach ASSET TYPE: Industrial BUYER: Tracy Turco (@Tracy.Turco) SELLER: Paragon Systems Integration (@Paragon_Systems) BROKERS: Paul Bergman (@Paul._.Bergman) & Gloria Giudici (@Gloria_Giudici_realtor) - Douglas Elliman (@DouglasElliman) SALE PRICE: $1,975,000 SF: 488 ~ PPSF: $4,047 NOTE FROM BROKERS: About the Buyer: Tracy Turco, renowned entrepreneur, author and designer, has acquired the property next to Grandview Market in West Palm Beach's vibrant Warehouse District. This space, named The Deco Palm, will serve as both an event venue and the headquarters for Palm Scene magazine, which celebrates retro charm and modern trends in Palm Beach and West Palm Beach. Tracy will also host the Palm Beach Vintage Market every Sunday, supporting local entrepreneurs and preserving the district's unique character. The Deco Palm is Tracy’s fourth investment in the area, following her successful projects: The Pink Flamingo, Tiki Hut, and The Posh Pineapple. About the Seller: Paragon Systems Integration, an HTA Certified company, specializes in high end audio-video, smart home automation, and home theater design and installation. With unmatched expertise, they deliver innovative solutions for construction, boardrooms, and media rooms. Paragon is based in Palm Beach, Miami, Aspen, Los Angeles, Hawaii and Cabo – www. https://paragon.io/

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$105,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,016.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,362.51
Annual Debt Service$112,350.09