Sean Conlon Sells Mixed-Use Property On Palm Beach's Sunset Ave For $17M
SOLD
$17,000,000
Florida
See Similar DealsMixed-use14,086 SF
Sold 05/05/2022
SOLD
Sean Conlon Sells Mixed-Use Property On Palm Beach's Sunset Ave For $17M
184 Sunset Avenue, Palm Beach, Florida 33480, United States
See Similar DealsMixed-use14,086 SF
Sold 05/05/2022
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$1,206
Total Square Footage:14,086 SF
Transaction Type:Sale
The mixed-use property located at 184 Sunset Ave in Palm Beach has recently been sold. The sale was facilitated by Zach Baraf and Sean Conlon, who represented the seller and the buyer, respectively.
Summary of transaction details
- Property Type: Mixed-use
- Sale Price: $17,000,000
- Units: 23
- Price Per Unit: $739,130
- Square Footage: 14,086
- Price Per Square Foot: $1,207
- Address: 184 Sunset Ave, Palm Beach
The 23 Unit Building is now the second-largest rental building on the island of Palm Beach. This successful transaction highlights the expertise of Zach Baraf and Sean Conlon in the Palm Beach real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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