Alderman WPB, LLC Acquires Retail Property In West Palm Beach For $8.07M
1225 Palm Beach Lakes Boulevard, West Palm Beach, Florida 33401, United States
$8,072,000
$1,647/SF
Building Size
4,900 SF
Asset Type
Retail
Closing
Sep 12, 2022
AI
The property involved in the transaction is a retail asset located at 1225, 1237 & 1249 Palm Beach Lakes Blvd in West Palm Beach. The sale took place on 09/13/2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,072,000
- Square Footage: 4,900
- Price per Square Foot: $1,647
- Address: 1225, 1237 & 1249 Palm Beach Lakes Blvd, West Palm Beach
- Market: West Palm Beach
The buyer of the property is Alderman WPB, LLC, while the seller is SDP Palm Beach Lakes, LLC. The transaction was facilitated by Marcus & Millichap, with Alan Lipsky, Barry Wolfe, and Joseph Prio representing the buyer and seller.
Players
West Palm 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
1.97%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93