Randall Realty Group Acquires Mixed-Use Property In Palm Beach For $15M
2875 South Ocean Boulevard
$15,000,000
$490/SF
Building Size
30,600 SF
Asset Type
Mixed-use
Closing
Jan 18, 2023
About this deal
AI
The Randall Realty Group has acquired a mixed-use property located at 2875 South Ocean Boulevard in Palm Beach. The property, spanning 30,600 square feet, was sold by the Silverman Group for a total price of $15,000,000. With a price per square foot of $490, this transaction reflects the strong market demand for mixed-use assets in Palm Beach.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $15,000,000
- Address: 2875 South Ocean Boulevard, Palm Beach
- Market: Palm Beach
- Buyer: Randall Realty Group
- Seller: Silverman Group
- Square Footage: 30,600 sqft
The acquisition was finalized on January 18, 2023. Jordan Randall, James Randall, and Benjamin Randall represented the Randall Realty Group as their brokers in this deal.
On the Map
$15,000,000
$490/SF
Mixed-use
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Players
Palm 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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93