Marcus & Millichap Facilitates $3.9M Sale Of Office Building In Palm Beach Gardens
3555 Northlake Boulevard, Palm Beach Gardens, FL, USA
$3,900,000
$145/SF
Building Size
26,763 SF
Asset Type
Office
Closing
Nov 29, 2021
About this deal
AI
An office property located at 3555 Northlake Boulevard in Palm Beach Gardens has been sold in a recent transaction. The property, with a sale price of $3,900,000, was part of a closed deal on November 30, 2021. The asset type of the property is office space. The transaction was facilitated by Barry M. Wolfe, Alan Lipsky, and Joseph Prio of Marcus & Millichap.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $3,900,000
- Date: 11/30/2021
- Address: 3555 Northlake Boulevard
- Market: Palm Beach Gardens
The deal was successfully closed with the assistance of Barry M. Wolfe, Alan Lipsky, and Joseph Prio from Marcus & Millichap, who represented the parties involved in the transaction. The sale of the office property reinforces the active real estate market in Palm Beach Gardens.
Players
Palm Beach Gardens 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
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93