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700 North Olive Avenue

Constance D. Thomas & David J Thomas IV Of TCRE Represent Buyer In $5.95M West Palm Beach Office Sale
SOLDOffice

Constance D. Thomas & David J Thomas IV Of TCRE Represent Buyer In $5.95M West Palm Beach Office Sale

700 North Olive Avenue

$5,950,000

$629/SF

Building Size

9,446 SF

Asset Type

Office

Closing

Sep 10, 2025

AI

The property asset involved in the transaction is an office located at 700 North Olive Avenue in the West Palm Beach market. The sale occurred on 09/11/2025, with a sale price of $5,950,000 and a total square footage of 9,446, resulting in a price per square foot of $630.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $5,950,000
  • Sale Date: 09/11/2025
  • Address: 700 North Olive Avenue
  • Market: West Palm Beach
  • Square Footage: 9,446
  • Price per Square Foot: $630
  • Buyer's Representative: Constance D. Thomas & David J Thomas IV - Tower Commercial Real Estate (TCRE)
  • Seller's Representative: Lesley Sheinberg & Barbara LeBrun - NAI Merin Hunter Codman

The transaction involved key individuals from both buying and selling sides. Constance D. Thomas and David J Thomas IV represented the buyer through Tower Commercial Real Estate (TCRE), while Lesley Sheinberg and Barbara LeBrun represented the seller under NAI Merin Hunter Codman, facilitating the deal for the respective parties.

Players

Lesley Sheinberg

NAI Merin Hunter Codman

Broker

$6M

vol

3 deals

Broker
Tower Commercial Real Estate (TCRE)
Tower Commercial Real Estate (TCRE)Brokerage

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

2.67%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93