SF Partners Sells Lake Worth Office Asset For $10.9M With Avison Young's David Duckworth, John Crotty, Michael Fay, Brian De La Fé, Emily Brais, & Berkley Bloodworth
SOLD
$10,900,000
+ 3
Florida
See Similar DealsOffice96,674 SF
Sold 10/15/2020
SOLD
SF Partners Sells Lake Worth Office Asset For $10.9M With Avison Young's David Duckworth, John Crotty, Michael Fay, Brian De La Fé, Emily Brais, & Berkley Bloodworth
2290 10th Avenue North, Lake Worth, FL, USA
See Similar DealsOffice96,674 SF
Sold 10/15/2020
+ 3
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$112
Total Square Footage:96,674 SF
Transaction Type:Sale
An office property located at 2290 & 2328 10th Avenue N. in Lake Worth has been sold for $10,900,000. The property spans 96,674 square feet, resulting in a price per square foot of $113. The transaction took place on October 15, 2020.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $10,900,000
- Address: 2290 & 2328 10th Avenue N., Lake Worth
- Market: Lake Worth
- Seller: SF Partners
- Brokers: David Duckworth, John Crotty, Michael Fay, Brian de la Fé, Emily Brais, & Berkley Bloodworth - Avison Young
- SF: 96,674
- PPSF: $113
The sale was facilitated by Avison Young brokers David Duckworth, John Crotty, Michael Fay, Brian de la Fé, Emily Brais, and Berkley Bloodworth. They represented SF Partners in the transaction.
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SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$581,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,725.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$51,671.56
Annual Debt Service$620,058.73
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