Nelson Ferreira Acquires Retail Property In North Palm Beach From Martin Osher & Irving Osher For $36M
SOLD
$36,000,000
Florida
See Similar DealsRetail98,846 SF
Sold 06/01/2022
SOLD
Nelson Ferreira Acquires Retail Property In North Palm Beach From Martin Osher & Irving Osher For $36M
11201 US Route 1, North Palm Beach, Florida 33408, United States
See Similar DealsRetail98,846 SF
Sold 06/01/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$364
Total Square Footage:98,846 SF
Transaction Type:Sale
Located in North Palm Beach, the property at 11201-11261 US Highway 1 has recently been sold. The retail asset, spanning approximately 98,846 square feet, was purchased for a total of $36,000,000. The transaction took place on June 1, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $36,000,000
- Address: 11201-11261 US Highway 1, North Palm Beach
- Square Footage: 98,846
The buyer for this property was Nelson Ferreira, while the sellers were Martin Osher and Irving Osher. Representing the deal on behalf of the buyer and seller were Tyler S. Kuhlman and Douglas K. Mandel from Marcus & Millichap.
With its strategic location and impressive square footage, this retail property offers great potential for future development. The transaction represents a lucrative investment opportunity in the bustling North Palm Beach market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,920,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$127,900.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$170,658.37
Annual Debt Service$2,047,900.40
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