ShareMD Acquires Medical Office In Boynton Beach From Redfearn Capital For $6.5M
2800 South Seacrest Boulevard, Boynton Beach, FL 33435, USA
$6,500,000
$204/SF
Building Size
31,747 SF
Asset Type
Office
Closing
May 27, 2020
AI
A medical office building located at 2828 South Seacrest Boulevard in Boynton Beach has been sold. The property, consisting of 31,747 square feet, was purchased by ShareMD, represented by John Bardis and George Scopetta, for a total price of $6,500,000. The sale price equates to a price per square foot of $205. The transaction also includes 1.8 acres of land, valued at approximately $3,611,111 per acre. The seller, Redfearn Capital, was represented by brokers Elliot LaBreche and Abbe Kind from Easton & Associates.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $6,500,000
- Square Footage: 31,747
- Address: 2828 South Seacrest Boulevard
- Market: Boynton Beach
- Buyer: ShareMD - John Bardis & George Scopetta
- Seller: Redfearn Capital
- Brokers: Elliot LaBreche & Abbe Kind - Easton & Associates
- Price Per Square Foot: $205
- Total Acres: 1.8
- Price Per Acre: $3,611,111
John Bardis and George Scopetta, representing ShareMD, played a key role in the purchase of the medical office building. The buyer was assisted by brokers Elliot LaBreche and Abbe Kind of Easton & Associates. The transaction took place on May 27, 2021.
Players
Boynton 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93