The Breakers Palm Beach Acquires Mixed-Use Property In Palm Beach For $12M
SOLD
$12,000,000
Florida
See Similar DealsMixed-use13,132 SF
Sold 03/27/2024
SOLD
The Breakers Palm Beach Acquires Mixed-Use Property In Palm Beach For $12M
233 Royal Poinciana Way & 235 Royal Poinciana Way
See Similar DealsMixed-use13,132 SF
Sold 03/27/2024
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$913
Total Square Footage:13,132 SF
Transaction Type:Sale
The property sold in this transaction is a mixed-use asset located at 233-235 Royal Poinciana Way in Palm Beach. The sale price was $12,000,000 for a total square footage of 6,566, resulting in a price per square foot of $1,828.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $12,000,000
- Buyer: The Breakers Palm Beach
- Seller: Sundar Jeyanandarajan - The Maha Ganapathy Trust
- Broker: Josh Wade - Flagship Partners
- Market: Palm Beach
Flagship Partners represented the exclusive broker in this off-market transaction. For further inquiries, Josh Wade can be contacted at [email protected].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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