Nancy & Kobi Karp Acquire Retail Property In Delray Beach For $5.7M
10 South Congress Avenue, Delray Beach, Florida 33445, United States
$5,700,000
$413/SF
Building Size
13,778 SF
Asset Type
Retail
Closing
Jan 3, 2022
About this deal
AI
Located at 10 South Congress Avenue in Delray Beach, this retail property spans approximately 1.6 acres. Designed by Kobi Karp, the property features a total area of 13,778 square feet.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $5,700,000
- Date: 01/03/2022
- Market: Delray Beach
- Buyer: Nancy & Kobi Karp - Kobi Karp Architecture & Interior Design
- Seller: Congress Avenue Realty LLC - George A. Morgan III
Jordan Karp represented the parties involved in the transaction as the broker. The sale price for this property was set at $5,700,000, resulting in a price per square foot (PPSF) of $414.
Players
Delray Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93