Alexander P. Redfearn Of Redfearn Capital Acquires Mixed-Use Property In West Palm Beach For $5.8M
310 South Dixie Highway
$5,800,000
$388/SF
Building Size
14,948 SF
Asset Type
Mixed-use
Closing
Apr 25, 2025
About this deal
AI
A mixed-use property located at 310 South Dixie Highway in West Palm Beach was sold for a price of $5,800,000. The asset encompasses a total of 14,948 square feet and is situated on a 0.35-acre lot, making it a significant addition to the local market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,800,000
- Address: 310 South Dixie Highway
- Market: West Palm Beach
- Square Footage: 14,948
- Price per Square Foot: $388
- Seller: Daniel Madden
- Buyer: Alexander P. Redfearn - Redfearn Capital
- Lender: Symetra Life Insurance
- Financing Amount: $3,775,000
- Maturity of Financing: 2028
The transaction involved Alexander P. Redfearn of Redfearn Capital, who is the buyer, and Daniel Madden, representing the seller in this deal. The financing for the acquisition was provided by Symetra Life Insurance, securing the transaction's funding.
On the Map
$5,800,000
$388/SF
Mixed-use
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Players
West 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
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93