Bill Sawhney Acquires Office In Royal Palm Beach For $1.43M
SOLD
$1,428,750
Florida
See Similar DealsOffice4,892 SF
Sold 02/21/2024
SOLD
Bill Sawhney Acquires Office In Royal Palm Beach For $1.43M
11327 Okeechobee Boulevard
See Similar DealsOffice4,892 SF
Sold 02/21/2024
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$292
Total Square Footage:4,892 SF
Transaction Type:Sale
The office property located at 11327 Okeechobee Boulevard in Royal Palm Beach was sold in a transaction between buyer Bill Sawhney and seller Karen Cavenagh. The property spans 4,892 square feet and was sold for $1,428,750, equating to $292 per square foot at a 3.29% cap rate.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,428,750
- Address: 11327 Okeechobee Boulevard
- Market: Royal Palm Beach
- Square Footage: 4,892
- Price per Square Foot: $292
Cleveland Sainpreux, Elon Gerberg, and Adam H. Klein from SVN Commercial Partners facilitated the deal, representing both the buyer and the seller. The buyer, Bill Sawhney, made a $100,000 non-refundable deposit upon signing the contract and successfully closed the transaction in just 16 days.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$76,200.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,076.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,773.00
Annual Debt Service$81,276.05
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