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
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