Index Investment Group & Verdex Construction Acquire Office Building In West Palm Beach For $13.4M
1501 Belvedere Road, West Palm Beach, FL, USA
$13,400,000
$203/SF
Building Size
65,760 SF
Asset Type
Office
Closing
Nov 24, 2021
About this deal
AI
An office property located at 1501 Belvedere Road in West Palm Beach has been sold for $13,400,000. The property spans across 65,760 square feet, resulting in a price per square foot of $204. The transaction took place on November 24, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $13,400,000
- Address: 1501 Belvedere Road
- Market: West Palm Beach
The buyer of the property was Index Investment Group and Verdex Construction, while the seller was CEMEX. The deal was facilitated by Bastian Laggerbauer and Mark Rubin from Colliers.
Players
West Palm Beach 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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93