Marcus & Millichap Facilitates $3.9M Sale Of Office Building In Palm Beach Gardens
SOLD
$3,900,000
Florida
See Similar DealsOffice26,763 SF
Sold 11/30/2021
SOLD
Marcus & Millichap Facilitates $3.9M Sale Of Office Building In Palm Beach Gardens
3555 Northlake Boulevard, Palm Beach Gardens, FL, USA
See Similar DealsOffice26,763 SF
Sold 11/30/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$145
Total Square Footage:26,763 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$208,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88
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