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2655 North Ocean Drive

Paul Snitkin Of Anderson Carr Represents Buyer In $16.5M Mixed-Use Sale In Riviera Beach
SOLDMixed-use

Paul Snitkin Of Anderson Carr Represents Buyer In $16.5M Mixed-Use Sale In Riviera Beach

2655 North Ocean Drive

$16,500,000

$365/SF

Building Size

45,182 SF

Asset Type

Mixed-use

Closing

Aug 14, 2025

AI

The asset involved in this transaction is a mixed-use property located at 2655 North Ocean Drive in Riviera Beach. The sale was completed for a total amount of $16,500,000, encompassing a total square footage of 45,182, resulting in a price per square foot of $365.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $16,500,000
  • Square Footage: 45,182
  • Address: 2655 North Ocean Drive
  • Market: Riviera Beach
  • Price per Square Foot: $365
  • Buyer's Representative: Paul Snitkin - Anderson Carr
  • Seller's Representatives: Rachel Mitrogiannis & Earl Hollis III - Hollis Realty Group

This transaction involved multiple representatives, with Paul Snitkin from Anderson Carr representing the buyer. The sellers were represented by Rachel Mitrogiannis and Earl Hollis III of Hollis Realty Group, highlighting a collaboration between different entities in this significant property deal.

Players

Rachel Mitrogiannis

Hollis Realty Group

Broker

$45M

vol

3 deals

Broker
HG
Hollis Realty GroupBrokerage

Riviera Beach Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.96%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93