Normandy Insurance Corporation Acquires Office In Boca Raton For $3.46M
SOLD
$3,465,000
Florida
See Similar DealsOffice15,926 SF
Sold 02/18/2021
SOLD
Normandy Insurance Corporation Acquires Office In Boca Raton For $3.46M
4800 N Federal Hwy, Boca Raton, FL, USA
See Similar DealsOffice15,926 SF
Sold 02/18/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$217
Total Square Footage:15,926 SF
Transaction Type:Sale
An office property located at 4800 N Federal Hwy in Boca Raton has been sold for $3,465,000. The property spans 15,926 square feet, resulting in a price per square foot of $218. The transaction took place on February 18, 2021.
Summary of transation details
- Property Type: Office
- Transaction Amount: $3,465,000
- Square Footage: 15,926
- Price per Square Foot: $218
- Address: 4800 N Federal Hwy, Boca Raton
- Market: Boca Raton
The buyer of the property is Normandy Insurance Corporation, while Sahap Sicimoglu is the seller. The transaction was facilitated by Alexis Shapiro and Robert Burstein from ONE Commercial.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$184,800.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,310.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,425.87
Annual Debt Service$197,110.41
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