SRS Real Estate Acquires Medical Office In West Palm Beach For $2.9M
8961 Okeechobee Blvd, West Palm Beach, FL, USA
$2,900,000
$820/SF
Building Size
3,533 SF
Asset Type
Office
Closing
Nov 29, 2021
AI
The recently closed property transaction involves a medical office located at 8961 Okeechobee Blvd in West Palm Beach. The transaction was facilitated by brokers Patrick Nutt and William Wamble from the National Net Lease Group at SRS Real Estate, along with Richard Dorfman from SRS Real Estate in Massachusetts. The property spans 3,533 square feet and was sold at a price of $2,900,000, resulting in a price per square foot of $821.
Summary of transaction details
- Property Type: Medical Office
- Transaction Amount: $2,900,000
- Address: 8961 Okeechobee Blvd
- Market: West Palm Beach
- BROKERS: Patrick Nutt & William Wamble - National Net Lease Group - SRS Real Estate; Richard Dorfman - SRS Real Estate - Massachusetts
- SF: 3,533
- PPSF: $821
The brokers involved in the deal were Patrick Nutt and William Wamble from the National Net Lease Group at SRS Real Estate, as well as Richard Dorfman from SRS Real Estate in Massachusetts.
Players
West Palm Beach Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93