Updated Oct 7, 2025
Saum Sutaria Of Tenet Healthcare Acquires Medical Office At 1411 North Flagler Drive For $62M
1411 North Flagler Drive
$62,000,000
$404/SF
Building Size
153,299 SF
Asset Type
Medical Office
Closing
Oct 7, 2025
About this deal
AI
The property involved in this transaction is a medical office located at 1411 North Flagler Drive in West Palm Beach. It was sold for $62,000,000 and features a total of 153,299 square feet, equating to a price per square foot of $404.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $62,000,000
- Address: 1411 North Flagler Drive
- Market: West Palm Beach
- Square Footage: 153,299
- Price Per Square Foot: $404
- Buyer: Saum Sutaria
- Company: Tenet Healthcare
This deal includes a ground lease that extends through 2060 with a 25-year renewal option, enabling Tenet Healthcare to expand its footprint alongside its other Palm Beach County hospitals.
Players
West Palm Beach 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
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93