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
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.
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