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230 US-1, Fort Pierce, FL 3...

Updated Oct 29, 2024

DS North Palm Beach Landlord LLC Acquires Retail Property On US Highway 1 In North Palm Beach For $6.9M
SOLDRetail

DS North Palm Beach Landlord LLC Acquires Retail Property On US Highway 1 In North Palm Beach For $6.9M

230 US-1, Fort Pierce, FL 34950, USA

$6,900,000

$481/SF

Building Size

14,321 SF

Asset Type

Retail

Closing

May 4, 2020

About this deal

AI

The retail property located at 230 US Highway 1 in North Palm Beach has been sold for a price of $6,900,000. Spanning across an area of 14,321 square feet, the property was acquired by DS North Palm Beach Landlord LLC, represented by SunTrust Equity Funding. The seller in this transaction was Walgreen Co., with Stefano Pessina and Richard Ashworth as the representatives.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $6,900,000
  • Address: 230 US Highway 1, North Palm Beach
  • Square Footage: 14,321
  • Buyer: DS North Palm Beach Landlord LLC (SunTrust Equity Funding)
  • Seller: Walgreen Co. – Stefano Pessina, Richard Ashworth

Stefano Pessina and Richard Ashworth played key roles as the representatives of Walgreen Co. in this retail property transaction. Their involvement in the deal highlights their influence and expertise in the market.

On the Map

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$6,900,000

$481/SF

Retail

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Players

SF
SunTrust Equity FundingBuyer
WC
Walgreen Co.Seller
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Fort Pierce Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $481 per square foot on a published $6.9M for 14,321 square feet (2020).

Browse Florida retail sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.30%

Cash-on-Cash

-0.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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