James Batmasian Acquires Office Building In Boca Raton For $6.35M
SOLD
$6,350,000
Florida
See Similar DealsOffice22,425 SF
Sold 02/22/2023
SOLD
James Batmasian Acquires Office Building In Boca Raton For $6.35M
2701 Northwest 2nd Avenue
See Similar DealsOffice22,425 SF
Sold 02/22/2023
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$283
Total Square Footage:22,425 SF
Transaction Type:Sale
The office property located at 2701 Northwest 2nd Avenue in Boca Raton has been sold in a closed transaction. The property spans a total of 22,425 square feet, with a sale price of $6,350,000, resulting in a price per square foot of $283.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,350,000
- Address: 2701 Northwest 2nd Avenue, Boca Raton
- Market: Boca Raton
The buyer in this transaction is James Batmasian, while the seller is Eire Lonestar Florida represented by Mark Spillane. The seller was represented by Benjamin (Ben) Silver & Sebastian Misiewicz of CBRE.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$338,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,560.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,102.24
Annual Debt Service$361,226.88
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