Dr. Michael Horn Acquires Boca Raton Medical Office For $1.25M
SOLD
$1,250,000
Florida
See Similar DealsOffice17,391 SF
Sold 01/15/2021
SOLD
Dr. Michael Horn Acquires Boca Raton Medical Office For $1.25M
4800 North Federal Highway, Boca Raton, FL, USA
See Similar DealsOffice17,391 SF
Sold 01/15/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$71
Total Square Footage:17,391 SF
Transaction Type:Sale
This office asset located at 4800 N. Federal Highway in Boca Raton has been sold in a recent transaction. The property, measuring 5,920 square feet, is classified as an office. It was sold on January 15, 2021.
Summary of transation details
- Property Type: Office
- Transaction Amount: $1,250,000
- Address: 4800 N. Federal Highway, Boca Raton
- Buyer: Dr. Michael Horn
- Seller: Sahap Sicimoglu
- Brokers: Alexis Shapiro & Robert Burstein - ONE Commercial
Dr. Michael Horn served as the buyer in this transaction, while Sahap Sicimoglu was the seller. The deal was facilitated by brokers Alexis Shapiro and Robert Burstein from ONE Commercial. Notably, this sale marks their 4th transaction in the past year within the building, totaling over 12,000 square feet for ONE Commercial.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$66,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,440.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,925.64
Annual Debt Service$71,107.65
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