Michael Ivancevic & Denice Sexton Broker Land Sale In Hobe Sound For $5.7M
302 South Beach Road
$5,700,000
Building Size
—
Asset Type
Land
Closing
Mar 12, 2024
About this deal
AI
In Hobe Sound, a 2.66-acre land parcel located at 302 South Beach Road was sold for $5.7 million. The transaction was facilitated with Michael Ivancevic of Illustrated Properties representing the buyer and Denice Sexton of Lost Tree Realty representing the seller.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $5,700,000
- Address: 302 South Beach Road
- Market: Hobe Sound
- Buyer's Representative: Michael Ivancevic - Illustrated Properties
- Seller's Representative: Denice Sexton - Lost Tree Realty
The deal at 302 South Beach Road involved a 2.66-acre land parcel in Hobe Sound. The buyer, represented by Michael Ivancevic of Illustrated Properties, and the seller, represented by Denice Sexton of Lost Tree Realty, successfully concluded the transaction.
Players
Hobe Sound Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93