Spencer Scalzitti(Native Realty) Facilitates Lease Deal For The Blind Monk In West Palm Beach
695 S Olive Ave, West Palm Beach, FL...
Building Size
2,209 SF
Asset Type
Retail
Closing
Sep 1, 2022
About this deal
AI
The retail property located at 695 S Olive Ave, West Palm Beach, FL, has been leased. The property spans 2209 square feet and was leased by The Blind Monk. The landlord, Korman Communities, was represented by Spencer Scalzitti of Native Realty in this transaction.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Market: West Palm Beach
- Landlord's Rep: Spencer Scalzitti(Native Realty)
- Tenant: The Blind Monk
- Landlord: Korman Communities
- Square Feet: 2209
The lease deal was successfully facilitated with Spencer Scalzitti of Native Realty representing Korman Communities, the landlord, and The Blind Monk, the tenant, taking occupancy of the retail space. This agreement highlights the cooperation between the parties involved in securing this commercial space in the vibrant market of West Palm Beach.
Players
West Palm Beach 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93