Kite Realty Group Acquires Retail Property In Boca Raton For $35.8M
22161 Powerline Road, Boca Raton, Florida 33433, United States
$35,750,000
$518/SF
Building Size
68,983 SF
Asset Type
Retail
Closing
Jul 24, 2022
About this deal
AI
A retail property in Boca Raton, located at 22161 & 22191 Powerline Road, has been sold for $35,750,000. The property spans across 7.6 acres and has a total square footage of 68,983. The sale price per square foot was $518.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $35,750,000
- Address: 22161 & 22191 Powerline Road, Boca Raton
- Market: Boca Raton
- Acres: 7.6
The buyer in this transaction was Kite Realty Group, represented by John A. Kite. The seller, Crow Holdings, was represented by Michael Levy.
On the Map
$35,750,000
$518/SF
Retail
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Players
Boca Raton 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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93