Pebb Enterprises And Tortoise Properties Acquire Military Trail Office Building In Jupiter For $31.45M
SOLD
$31,450,000
+ 3
Florida
See Similar DealsOffice186,238 SF
Sold 03/06/2020
SOLD
Pebb Enterprises And Tortoise Properties Acquire Military Trail Office Building In Jupiter For $31.45M
1701 Military Trail
See Similar DealsOffice186,238 SF
Sold 03/06/2020
+ 3
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$168
Total Square Footage:186,238 SF
Transaction Type:Sale
The property at 1701 Military Trail in Jupiter has been sold in a recent transaction. The office building spans 186,238 square feet and was sold for a price of $31,450,000, resulting in a price per square foot of $168. The sale took place on March 6, 2020.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $31,450,000
- Address: 1701 Military Trail, Jupiter
- Market: Jupiter
- Square Footage: 186,238
- Price per Square Foot: $168
The buyer of the property is Pebb Enterprises represented by Ian Weiner and Tortoise Properties represented by Jake Geleerd. The seller is Poh Jupiter Ownership LLC, represented by Craig Sternberg. The transaction was facilitated by brokers from Cushman & Wakefield, including Jason Hochman, Scott O’Donnell, Michael Ciadella, Dominic Montazemi, Greg Miller, and Miguel Alcivar.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,677,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$111,735.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$149,089.05
Annual Debt Service$1,789,068.54
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