Saba Centers Acquires Retail Property In Boynton Beach For $7.2M
SOLD
Florida
See Similar DealsRetail35,142 SF
Sold 12/22/2021
SOLD
Saba Centers Acquires Retail Property In Boynton Beach For $7.2M
1550 N Federal Hwy, Boynton Beach, Florida 33435, United States
See Similar DealsRetail35,142 SF
Sold 12/22/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$205
Total Square Footage:35,142 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$385,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,651.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,226.48
Annual Debt Service$410,717.80
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