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
Boca Raton 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93