1912 N Flagler Drive Associates LLC Acquires Office Property In West Palm Beach For $4M
203 Pine St, West Palm Beach, FL, USA
$4,000,000
$1,361/SF
Building Size
2,939 SF
Asset Type
Office
Closing
Jul 14, 2021
About this deal
AI
The office property located at 203 Pine St & 1911 N Flagler Dr in West Palm Beach has been sold in a recent transaction. The property spans 2,939 square feet and was sold for a price of $4,000,000, resulting in a price per square foot of $1,361.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,000,000
- Address: 203 Pine St & 1911 N Flagler Dr, West Palm Beach
- Market: West Palm Beach
- Buyer: 1912 N Flagler Drive Associates LLC
- Seller: Janice Lee Thorstad, Michael Gardner Thorstad, and Gernie H. Moorhead Jr.
The buyer in this transaction, 1912 N Flagler Drive Associates LLC, purchased the office property from Janice Lee Thorstad, Michael Gardner Thorstad, and Gernie H. Moorhead Jr. This deal signifies the involvement of key individuals and companies in the West Palm Beach real estate market.
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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93