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4624 S Dixie Hwy West Palm ...

Speech & OT Specialists & Play Pals Acquires 5,988 SF Retail Space In West Palm Beach
LEASEDRetail

Speech & OT Specialists & Play Pals Acquires 5,988 SF Retail Space In West Palm Beach

4624 S Dixie Hwy West Palm Beach, FL 33405, USA

$35

$35/SF

Building Size

5,988 SF

Asset Type

Retail

Closing

May 26, 2023

AI

S & T Bakum LLC has leased a 5,988-square-foot retail space located at 4624 South Dixie Highway in West Palm Beach. The space, situated in a strip shopping center, will be occupied by Palm Beach Speech & OT Specialists and Play Pals, offering speech therapy, occupational therapy, and early learning programs. The lease transaction was completed by the fourth quarter.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 4624 South Dixie Highway
  • Market: West Palm Beach
  • Landlord: S & T Bakum LLC
  • Tenant: Speech & OT Specialists & Play Pals - Sheryl Rosin
  • Landlord's Rep: Honey Bryan - Colliers International
  • Tenant's Rep: Paul Bergman - Douglas Elliman
  • Asking Rent: $35 per square foot
  • Square Footage: 5,988

Paul Bergman from Douglas Elliman represented the tenant, Sheryl Rosin, in the lease transaction. Honey Bryan from Colliers International served as the landlord's representative.

Players

Honey Bryan

Colliers

Broker

1 deal

Broker

Miami Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

453228.57%

Cash-on-Cash

-129534.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93