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101 John F. Kennedy Drive

Updated Oct 29, 2024

Kidney And Hypertension Of The Palm Beaches Acquires Medical Office In Atlantis For $2.66M
SOLDMedical Office

Kidney And Hypertension Of The Palm Beaches Acquires Medical Office In Atlantis For $2.66M

101 John F. Kennedy Drive

$2,660,000

$396/SF

Building Size

6,718 SF

Asset Type

Medical Office

Closing

Feb 21, 2023

About this deal

AI

The medical office located at 101 John F. Kennedy Drive in Atlantis has been sold for a total price of $2,660,000. The property spans an area of 6,718 square feet, resulting in a price per square foot of $396. The transaction took place on February 21, 2023. The buyer, Kidney and Hypertension of the Palm Beaches, PLLC, acquired the property from the sellers, Da Vinci Diagnostic Facility LLC & Da Vinci Diagnostics Facility II LLC. Strategic Realty Services represented the sellers in the deal, while Lorin Romeo Romay from Illustrated Properties and Sherri Hanlon from Hanlon Realty Group acted as the buyer's representatives.

Summary of transaction details

  • Property Type: Medical Office
  • Transaction Amount: $2,660,000
  • Address: 101 John F. Kennedy Drive, Atlantis
  • Market: Atlantis
  • Buyer: Kidney and Hypertension of the Palm Beaches, PLLC
  • Seller: Da Vinci Diagnostic Facility LLC & Da Vinci Diagnostics Facility II LLC
  • Buyer's Representatives: Lorin Romeo Romay - Illustrated Properties; Sherri Hanlon - Hanlon Realty Group
  • Seller's Representative: Strategic Realty Services
  • Square Footage: 6,718
  • Price per Square Foot: $396

Lorin Romeo Romay from Illustrated Properties and Sherri Hanlon from Hanlon Realty Group played significant roles as buyer's representatives in the transaction. Their expertise and negotiation skills were instrumental in ensuring a successful deal for Kidney and Hypertension of the Palm Beaches, PLLC. Likewise, Strategic Realty Services represented the sellers with their extensive market knowledge and experience in the medical office sector.

Players

Lorin Romeo Romay

Illustrated Properties Real Estate

Broker

$2.7M

vol

1 deal

Broker

Lake Worth Medical Office Market Snapshot

Boundary boundary · Medical Office · Sale transactions

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Deal FAQ

About $396 per square foot on a published $2.7M for 6,718 square feet (2023).

Visit Illustrated Properties Real Estate to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.96%

Cash-on-Cash

-1.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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