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2800 South Seacrest Bouleva...

ShareMD Acquires Medical Office In Boynton Beach From Redfearn Capital For $6.5M
SOLDOffice

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

Elliot LaBreche

Broker

$44.5M

vol

3 deals

Broker
Redfearn Capital
Redfearn CapitalBrokerage

John Bardis

ShareMD

Buyer

$126.5M

vol

2 deals

Buyer
Redfearn Capital
Redfearn CapitalSeller

Boynton Beach Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

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