Current Capital Group Acquires Retail Property In West Palm Beach For $12.75M
2845 North Military Trail, West Palm Beach, Florida 33417, United States
$12,750,000
$160/SF
Building Size
79,500 SF
Asset Type
Retail
Closing
Apr 7, 2022
AI
The retail property located at 2845 N Military Trl & 6651 Lake Worth Road in West Palm Beach has been sold. The transaction took place on 04/08/2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,750,000
- Address: 2845 N Military Trl & 6651 Lake Worth Road
- Market: West Palm Beach
The buyer of the property is Todd Nepola of Current Capital Group, while the seller is Raj Gupta. Benedict Gutierrez, representing Marcus & Millichap, acted as the seller's representative in the deal. The property was listed with an asking price of $14,200,000.
The retail property has a total square footage of 79,500. The price per square foot for the property was $160.
Players
West Palm 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
1.24%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93