James & Marta Batmasian Acquire Delray Beach Retail & Office Property For $18.5M
411 East Atlantic Avenue, Delray Beach, Florida 33483, United States
$18,500,000
Building Size
—
Asset Type
Mixed-use
Closing
Jan 26, 2022
AI
411 East Atlantic Avenue in Delray Beach has been sold in a recent transaction. The property, which consists of retail and office space, changed hands for a sale price of $18,500,000.
Summary of transaction details
- Property Type: Retail & Office
- Sale Price: $18,500,000
- Date: 01/27/2022
- Market: Delray Beach
The buyers of the property were James & Marta Batmasian, represented by Investments Limited. On the other hand, the seller was Babak Ebrahimzadeh from Master Mind. Joseph Scarfone from One Investment Group acted as the broker in this deal.
Players
Delray 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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93