SRS Real Estate Acquires Medical Office In West Palm Beach For $2.9M
SOLD
$2,900,000
Florida
See Similar DealsOffice3,533 SF
Sold 11/29/2021
SOLD
SRS Real Estate Acquires Medical Office In West Palm Beach For $2.9M
8961 Okeechobee Blvd, West Palm Beach, FL, USA
See Similar DealsOffice3,533 SF
Sold 11/29/2021
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$820
Total Square Footage:3,533 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$154,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,303.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,747.48
Annual Debt Service$164,969.75
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