Anthony Cohen, Reed Melillo, And Mike James Acquire Palm Coast Office Building For $11.3M
SOLD
$11,297,286
+ 2
Florida
See Similar DealsOffice27,310 SF
Sold 01/27/2021
SOLD
Anthony Cohen, Reed Melillo, And Mike James Acquire Palm Coast Office Building For $11.3M
57 Town Ct, Palm Coast, FL, USA
See Similar DealsOffice27,310 SF
Sold 01/27/2021
+ 2
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$413
Total Square Footage:27,310 SF
Transaction Type:Sale
The office property located at 57 Town Ct in Palm Coast was recently sold for a total price of $11,297,286. Spanning a total area of 27,310 square feet, the property was sold at a rate of $414 per square foot. The transaction took place on January 27, 2021, and the property boasted a cap rate of 7.14%.
Summary of Transaction Details:
- Property Type: Office
- Transaction Amount: $11,297,286
- Address: 57 Town Ct, Palm Coast
- Market: Palm Coast
- Square Footage: 27,310
- Price per Square Foot: $414
- Cap Rate: 7.14%
The brokers involved in the transaction included Anthony Cohen, Reed Melillo, and Mike James. Brad Kraus and Jorge Gomez acted as the mortgage brokers. All these individuals played a crucial role in facilitating the sale of the office property at 57 Town Ct.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$602,521.91
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,136.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,554.90
Annual Debt Service$642,658.79
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