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16552 Norris Road

Updated Oct 28, 2024

Vadi Financial - Aldo & Lorri Lomnitzer Disorbo Acquires Mixed Use Property In Wellington, FL For $1.4M
SOLDMixed-use

Vadi Financial - Aldo & Lorri Lomnitzer Disorbo Acquires Mixed Use Property In Wellington, FL For $1.4M

16552 Norris Road

$1,400,000

$316/SF

Building Size

4,429 SF

Asset Type

Mixed-use

Closing

Aug 12, 2022

About this deal

AI

A mixed-use property located at 16552 Norris Rd in Wellington, FL has been sold for a price of $1,400,000. The property spans 4,429 square feet, resulting in a price per square foot of $316. The transaction took place on 08/12/2022.

Summary of transaction details:

  • Property Type: Mixed Use
  • Transaction Amount: $1,400,000
  • Address: 16552 Norris Rd
  • Market: Wellington, FL

The buyer of the property is Vadi Financial, represented by Aldo & Lorri Lomnitzer Disorbo. The seller, on the other hand, is Zanotti Estate, owned by John Zanotti. In the transaction, the broker involved was Marcello Fabbri from Equestrian Sotheby's International Realty.

This unique property, dubbed as the "King of The Castle," replicates the 12th-century Lohort Castle in County Cork, Ireland. Situated on 5 acres in the Rustic Ranches neighborhood of Wellington, this one-of-a-kind property holds immense potential.

Note from the broker, Marcello Fabbri:

"Dreams come true with this one-of-a-kind, 5-acre property nestled in the quiet neighborhood of Rustic Ranches on the Western end of Wellington, in Palm Beach, FL. Designed to be a replica of the 12th-century Lohort Castle in County Cork, Ireland, this stunning property has possibilities at every turn."

For the second time, Marcello Fabbri has facilitated the transaction for this property, previously representing both the buyer and the seller.

Contact details for Marcello Fabbri:
Phone: 561.788.0403
Website: www.marcellofabbriproperties.com

Players

Marcello Fabbri

Concierge Properties

Broker

$13.3M

vol

6 deals

Broker

Wellington Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $316 per square foot on a published $1.4M for 4,429 square feet (2022).

Visit Marcello Fabbri to view all their deals.

Browse Wellington mixed use sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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