Institutional Property Advisors - Marcus & Millichap Acquires Office Building In Boca Raton For $9.5M
1095 Broken Sound Parkway Northwest, Boca Raton, Florida 33487, United States
$9,500,000
$203/SF
Building Size
46,593 SF
Asset Type
Office
Closing
Sep 21, 2022
About this deal
AI
The office property located at 1095 Broken Sound Parkway in Boca Raton has been sold for a price of $9,500,000. The transaction took place on September 22, 2022. The property spans across 46,593 square feet, resulting in a price per square foot of $204. The sale was facilitated by brokers Douglas K. Mandel, Tyler S. Kuhlman, and Zachary Levine of Institutional Property Advisors, which operates under Marcus & Millichap.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,500,000
- Address: 1095 Broken Sound Parkway, Boca Raton
- Market: Boca Raton
Douglas K. Mandel, Tyler S. Kuhlman, and Zachary Levine, representing Institutional Property Advisors - Marcus & Millichap, played a crucial role in the successful sale of this office property in Boca Raton. Their expertise and efforts were instrumental in closing the transaction at a price of $9,500,000.
Players
Boca Raton Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93