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3010 North Military Trail

Larsen MacColl Partners Acquires Office Building In Boca Raton For $9.8M
SOLDOffice

Larsen MacColl Partners Acquires Office Building In Boca Raton For $9.8M

3010 North Military Trail

$98,000,000

$3,328/SF

Building Size

29,444 SF

Asset Type

Office

Closing

Oct 11, 2023

AI

A commercial office property located at 3010 N Military Trail in Boca Raton, FL has been sold for a total price of $9,800,000. The property spans a total area of 29,444 square feet, resulting in a price per square foot of $333. The transaction took place on October 11, 2023.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $9,800,000
  • Address: 3010 N Military Trail, Boca Raton, FL
  • Market: Boca Raton, FL
  • Buyer: Larsen MacColl Partners
  • Seller: Malcolm Butters
  • Brokers: Douglas Mandel, Tyler Kuhlman, Zach Levine - Marcus Millichap Florida
  • Square Footage: 29,444
  • Price per Square Foot: $333

The deal was facilitated by Douglas Mandel, Tyler Kuhlman, and Zach Levine from Marcus Millichap Florida, who served as brokers for this transaction. Larsen MacColl Partners emerged as the buyer, while Malcolm Butters acted as the seller. This transaction highlights the active commercial real estate market in Boca Raton, Florida.

Players

Douglas K. Mandel

Marcus & Millichap

Broker

$1.1B

vol

72 deals

Broker
Partners
PartnersBuyer
Malcolm Butters

Malcolm Butters

Seller

$344.1M

vol

13 deals

Seller

Boca Raton 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

0.16%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93