Capitol Mall LLC Acquires Mixed-use Property In Palm Springs For $3.8M
SOLD
$3,800,000
Florida
See Similar DealsMixed-use23,698 SF
Sold 09/28/2021
SOLD
Capitol Mall LLC Acquires Mixed-use Property In Palm Springs For $3.8M
3745 S Congress Ave, Palm Springs, FL, USA
See Similar DealsMixed-use23,698 SF
Sold 09/28/2021
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$160
Total Square Footage:23,698 SF
Transaction Type:Sale
A mixed-use property located at 3745 South Congress Ave in Palm Springs has been sold for a price of $3,800,000. The property spans 23,698 square feet, resulting in a price per square foot of $160. The transaction took place on September 28, 2021, and involved Capitol Mall LLC as the buyer and Congressional Developers Inc. as the seller.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $3,800,000
- Address: 3745 South Congress Ave
- Market: Palm Springs
The deal was facilitated by brokers David Donnellan and Patricia Friend from CBRE, who represented Capitol Mall LLC in the transaction. The involvement of these brokers highlights their role in assisting the buyer throughout the process.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$202,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,500.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,013.94
Annual Debt Service$216,167.26
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