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James & Marta Batmasian Acquire Delray Beach Retail & Office Property For $18.5M

Property Image
SOLD
$18,500,000
Joseph Scarfone
Babak Ebrahimzadeh
James Batmasian
+ 1

Florida

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Mixed-use
Sold 01/27/2022
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Property Image
SOLD

James & Marta Batmasian Acquire Delray Beach Retail & Office Property For $18.5M

411 East Atlantic Avenue, Delray Beach, Florida 33483, United States

See Similar Deals
Mixed-use
Sold 01/27/2022
Joseph Scarfone
Babak Ebrahimzadeh
James Batmasian
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Mixed-use
Transaction Type:Sale

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

Joseph Scarfone
Joseph Scarfone
2 deals$35.3M volume
BROKER
Babak Ebrahimzadeh
Gatsby Enterprises
Babak Ebrahimzadeh
8 deals$111.1M volume
BROKER
James Batmasian
James Batmasian
15 deals$223.9M volume
BUYER
MB
Marta Batmasian
2 deals$64.5M volume
BUYER
Babak Ebrahimzadeh
Babak Ebrahimzadeh
8 deals$111.1M volume
SELLER
Babak Ebrahimzadeh
Babak Ebrahimzadeh
8 deals$111.1M volume
SELLER
Babak Ebrahimzadeh
Babak Ebrahimzadeh
8 deals$111.1M volume
SELLER

Details

SOLD
IMAGE: Joseph Scarfone, James Batmasian (@JamesBatmasian) & Marta Batmasian DATE: 01/27/2022 ADDRESS: 411 East Atlantic Avenue MARKET: Delray Beach ASSET TYPE: Retail & Office BUYER: James & Marta Batmasian - Investments Limited (@InvestmentsLimited) SELLER: Babak Ebrahimzadeh - Master Mind BROKER: Joseph Scarfone - One Investment Group SALE PRICE: $18,500,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$986,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$65,726.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$87,699.44
Annual Debt Service$1,052,393.26