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Brightwork Real Estate Sells Retail Property In Palm Springs For $7M

Property Image
SOLD
$7,000,000

Florida

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Retail78,408 SF
Sold 02/21/2020
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Property Image
SOLD

Brightwork Real Estate Sells Retail Property In Palm Springs For $7M

South Military Trail, Palm Springs, FL, USA

See Similar Deals
Retail78,408 SF
Sold 02/21/2020
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$89
Total Square Footage:78,408 SF
Transaction Type:Sale

The retail property located at 3288 South Military Trail in Palm Springs has been sold in a transaction completed on February 21, 2020. The property, spread over an area of 78,408 square feet, was sold for a price of $7,000,000, resulting in a price per square foot of $89. The seller of the property was Brightwork Real Estate, represented by Austin Simmons. The brokerage firm 3288 Military Trail LLC, with Ana Crisan as their representative, facilitated the transaction.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $7,000,000
  • Address: 3288 South Military Trail, Palm Springs
  • Market: Palm Springs
  • Square Footage: 78,408
  • Price per Square Foot: $89
  • Seller: Brightwork Real Estate - Austin Simmons
  • Broker: 3288 Military Trail LLC - Ana Crisan

This transaction showcases the involvement of key individuals and companies in the real estate deal. Austin Simmons from Brightwork Real Estate acted as the seller's representative, while Ana Crisan from 3288 Military Trail LLC represented the brokerage firm. The successful completion of the sale highlights the expertise and effectiveness of these professionals in the retail property market in Palm Springs.

Players

1 deal$7M volume
BROKER

SELLER

Details

SOLD
IMAGE: Austin Simmons DATE: 02/21/2020 ADDRESS: 3288 South Military Trail MARKET: Palm Springs ASSET TYPE: Retail SELLER: Brightwork Real Estate - Austin Simmons BROKER: 3288 Military Trail LLC - Ana Crisan PRICE: $7,000,000 SF: 78,408 ~ PPSF: $89

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$373,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85