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
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