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Alderman WPB, LLC Acquires Retail Property In West Palm Beach For $8.07M

Property Image
SOLD
$8,072,000
Joseph Prio
Alan Lipsky
Barry Wolfe

Florida

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Retail4,900 SF
Sold 09/13/2022
the dealplayerscompscontact
Property Image
SOLD

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

See Similar Deals
Retail4,900 SF
Sold 09/13/2022
Joseph Prio
Alan Lipsky
Barry Wolfe
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,647
Total Square Footage:4,900 SF
Transaction Type:Sale

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

Barry Wolfe
Marcus & Millichap
Barry Wolfe
16 deals$118.5M volume(954) 245-3400
BROKER
Alan Lipsky
Marcus & Millichap
Alan Lipsky
13 deals$75.8M volume
BROKER
Joseph Prio
Marcus & Millichap
Joseph Prio
3 deals$18M volume
BROKER

Details

SOLD
IMAGE: Alan Lipsky, Barry Wolfe & Joseph Prio DATE: 09/13/2022 ADDRESS: 1225, 1237 & 1249 Palm Beach Lakes Blvd MARKET: West Palm Beach ASSET TYPE: Retail BUYER: Alderman WPB, LLC SELLER: SDP Palm Beach Lakes, LLC BROKERS: Alan Lipsky, Barry Wolfe & Joseph Prio - Marcus & Millichap SALE PRICE: $8,072,000 SF: 4,900 ~ PPSF: $1,647

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$430,506.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,678.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,265.40
Annual Debt Service$459,184.78