Biscayne Advisors Represents Buyer In $10.4M Office Sale In West Palm Beach
SOLD
Florida
See Similar DealsOffice41,400 SF
Sold 08/17/2022
SOLD
Biscayne Advisors Represents Buyer In $10.4M Office Sale In West Palm Beach
2005 Vista Parkway
See Similar DealsOffice41,400 SF
Sold 08/17/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$251
Total Square Footage:41,400 SF
Transaction Type:Sale
The office property located at 2005 Vista Parkway in West Palm Beach has been sold in a recent transaction. The property spans 41,400 square feet and was sold for a price of $10,430,000. The sale price equates to $252 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $10,430,000
- Square Footage: 41,400
- Price per Square Foot: $252
- Address: 2005 Vista Parkway, West Palm Beach
Yishai Sinai from Biscayne Advisors served as the buyer's representative in the transaction, while Joseph P. Byrnes and Brian Batchelder from Berger Commercial Realty / CORFAC International represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$556,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,055.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,443.52
Annual Debt Service$593,322.25
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