Saba Centers Acquires Retail Property In Boynton Beach For $7.2M
1550 N Federal Hwy, Boynton Beach, Florida 33435, United States
$7,220,000
$205/SF
Building Size
35,142 SF
Asset Type
Retail
Closing
Dec 22, 2021
About this deal
AI
Located in Boynton Beach, the retail property at 1550-1600 N. Federal Hwy has been sold. The transaction took place on December 22, 2021. The property, spanning a total of 35,142 square feet, was listed with an asking price of $7,220,000 and was ultimately sold for the same price, resulting in a price per square foot of $205.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,220,000
- Address: 1550-1600 N. Federal Hwy
- Market: Boynton Beach
- Buyer: Saba Centers - Michael Saba Jr. & Michael Saba Sr.
- Seller: Scott Maslin - Woodglen Investments
The buyer of the property is represented by Michael Saba Jr. and Michael Saba Sr. from Saba Centers. On the other hand, Scott Maslin from Woodglen Investments acted as the seller. These key individuals played crucial roles in the successful completion of the deal.
On the Map
$7,220,000
$205/SF
Retail
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Players
Boynton 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
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93