BD 4801, LLC Acquires Office Property In Lake Worth For $5.55M
SOLD
$5,550,000
+ 2
Florida
See Similar DealsOffice35,078 SF
Sold 07/15/2021
SOLD
BD 4801, LLC Acquires Office Property In Lake Worth For $5.55M
4801 S Congress Ave, Lake Worth, FL, USA
See Similar DealsOffice35,078 SF
Sold 07/15/2021
+ 2
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$158
Total Square Footage:35,078 SF
Transaction Type:Sale
An office property located at 4801 South Congress Ave. in Lake Worth was recently sold for a total of $5,550,000. The property spans across 35,078 square feet and was sold at a price of $158 per square foot. The transaction took place on July 15, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,550,000
- Address: 4801 South Congress Ave.
- Market: Lake Worth
- Square Footage: 35,078
The buyer of the office property was BD 4801, LLC, while the seller was JPMCC 2006-LDP7 Office 4801, LLC. The deal was facilitated by brokers John K. Crotty, CCIM, David Duckworth, Michael T. Fay, Brian de la Fé, and Berkley Bloodworth from Avison Young.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$295,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,717.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,309.83
Annual Debt Service$315,717.98
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