Updated Oct 29, 2024
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
Lake Worth Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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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