Miriam Berman Acquires Retail Property On South Congress Avenue In Palm Springs For $2.1M
SOLD
$2,100,000
Florida
See Similar DealsRetail10,030 SF
Sold 10/03/2023
SOLD
Miriam Berman Acquires Retail Property On South Congress Avenue In Palm Springs For $2.1M
3678 South Congress Avenue
See Similar DealsRetail10,030 SF
Sold 10/03/2023
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$209
Total Square Footage:10,030 SF
Transaction Type:Sale
The retail property located at 3678 South Congress Avenue in Palm Springs has been recently sold for $2,100,000. The asset spans across 10,030 square feet, resulting in a price per square foot of $209. The transaction took place between Miriam Berman, the buyer, and Jay Bailyn, the seller. The deal was facilitated by Grant Steinberg and Rob Goldberg from Matthews Real Estate Investment Services.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,100,000
- Square Footage: 10,030
- Price Per Square Foot: $209
- Address: 3678 South Congress Avenue, Palm Springs
- Market: Palm Springs
- Buyer: Miriam Berman
- Seller: Jay Bailyn
- Brokers: Grant Steinberg & Rob Goldberg - Matthews Real Estate Investment Services
The involvement of Grant Steinberg and Rob Goldberg from Matthews Real Estate Investment Services played a pivotal role in the successful completion of the retail property sale. Both brokers showcased their expertise and negotiation skills throughout the transaction, ensuring a favorable outcome for all parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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