JPMorgan Chase Acquires Office Building In West Palm Beach For $5.7M
SOLD
$5,700,000
Florida
See Similar DealsOffice24,000 SF
Sold 04/28/2020
SOLD
JPMorgan Chase Acquires Office Building In West Palm Beach For $5.7M
3914 S Dixie Hwy, West Palm Beach, FL 33405, USA
See Similar DealsOffice24,000 SF
Sold 04/28/2020
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$237
Total Square Footage:24,000 SF
Transaction Type:Sale
JPMorgan Chase has acquired an office property located at 3914 South Dixie Hwy in West Palm Beach. The property, with a total square footage of 24,000, was sold by Flagler Realty & Development. The transaction price for the property was $5,700,000, leading to a price per square foot of $237.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,700,000
- Address: 3914 South Dixie Hwy, West Palm Beach
- Market: West Palm Beach
- Buyer: JPMorgan Chase
- Seller: Flagler Realty & Development – Patrick Koenig, Richard Johnson, Jr. & Scott Johnson
- Total Square Footage: 24,000
- Price per Square Foot: $237
This acquisition was made by JPMorgan Chase, a prominent player in the financial industry, through a transaction with Flagler Realty & Development. Patrick Koenig, Richard Johnson, Jr., and Scott Johnson represented the seller in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$304,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,250.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,020.91
Annual Debt Service$324,250.90
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