Brightwork Real Estate Sells Retail Property In Palm Springs For $7M
South Military Trail, Palm Springs, FL, USA
$7,000,000
$89/SF
Building Size
78,408 SF
Asset Type
Retail
Closing
Feb 20, 2020
About this deal
AI
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
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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93