ABS National Business Acquires Office On PGA Boulevard In Palm Beach Gardens For $30.55M
SOLD
$30,550,000
+ 1
Florida
See Similar DealsOffice86,542 SF
Sold 05/05/2021
SOLD
ABS National Business Acquires Office On PGA Boulevard In Palm Beach Gardens For $30.55M
3250 PGA Boulevard, Palm Beach Gardens, FL 33410
See Similar DealsOffice86,542 SF
Sold 05/05/2021
+ 1
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$353
Total Square Footage:86,542 SF
Transaction Type:Sale
The office property located at 3250 PGA Boulevard in Palm Beach Gardens has been sold in a transaction worth $30,550,000. The property spans 86,542 square feet, resulting in a price per square foot of $353. The sale of this property was completed on 05/05/2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $30,550,000
- Address: 3250 PGA Boulevard, Palm Beach Gardens
- Market: Palm Beach Gardens
- Buyer: ABS National Business - Brian Warwick, Gregg Schenker & John Zirinsky
- Seller: Stiles
- Brokers: Christian Lee, José Lobón, Kevin Probel & Kevin McCarthy - CBRE
The buyer representation in this deal was provided by Brian Warwick, Gregg Schenker, and John Zirinsky from ABS National Business. On the other hand, the seller was Stiles. The transaction was facilitated by Christian Lee, José Lobón, Kevin Probel, and Kevin McCarthy from CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,629,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$108,537.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$144,822.59
Annual Debt Service$1,737,871.03
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