facebook
Traded Co logo
Submit

DIR Development Acquires Office Building In Palm Springs For $5M

Property Image
SOLD
$5,000,000
Brett Buchwald
Theron May
Drew Neems

Florida

See Similar Deals
Office18,400 SF
Sold 06/17/2020
the dealplayerscompscontact
Property Image
SOLD

DIR Development Acquires Office Building In Palm Springs For $5M

1620 South Congress Avenue, Palm Springs, FL, USA

See Similar Deals
Office18,400 SF
Sold 06/17/2020
Brett Buchwald
Theron May
Drew Neems
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$271
Total Square Footage:18,400 SF
Transaction Type:Sale

DIR Development has acquired an office property located at 1620 S Congress Ave in Palm Springs. The property, with a total area of 18,400 square feet, was sold by Plastic Surgery of Palm Beach for a sale price of $5,000,000. The transaction took place on June 17, 2021. The office is situated in the Palm Springs market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $5,000,000
  • Address: 1620 S Congress Ave
  • Market: Palm Springs
  • Buyer: DIR Development
  • Seller: Plastic Surgery of Palm Beach
  • Buyer's Representative: Drew Neems - Imperial Realty
  • Seller's Representative: Brett Buchwald - Ackerman Medical
  • Square Footage: 18,400
  • Price per Square Foot: $272

Drew Neems from Imperial Realty and Theron May were the buyer's representatives in the deal, while Brett Buchwald represented the seller, Plastic Surgery of Palm Beach.

Players

Drew Neems
NorthMarq
Drew Neems
9 deals$45.4M volume(847) 284-0493
BROKER
Theron May
Imperial Realty Company
Theron May
6 deals$20.3M volume
BROKER
Brett Buchwald
Brett Buchwald
1 deal$5M volume
BROKER

Details

SOLD
IMAGE: Theron May, Brett Buchwald & Drew Neems DATE: 06/17/2021 ADDRESS: 1620 S Congress Ave MARKET: Palm Springs ASSET TYPE: Office BUYER: DIR Development SELLER: Plastic Surgery of Palm Beach BUYER'S REP: Drew Neems @NewDreems & Theron May @TheronMay - Imperial Realty SELLER'S REP: Brett Buchwald - Ackerman Medical SALE PRICE: $5,000,000 SF: 18,400 ~ PPSF: $272

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$266,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61