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3555 Northlake Boulevard, P...

Marcus & Millichap Facilitates $3.9M Sale Of Office Building In Palm Beach Gardens
SOLDOffice

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

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

Barry Wolfe

Marcus & Millichap

Broker

$118.5M

vol

16 deals

Broker

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