Vad PBI Retail LLC Acquires Retail Property In West Palm Beach For $12.5M
3899 North Haverhill Road, West Palm Beach, FL 33417, USA
$12,500,000
$219/SF
Building Size
57,070 SF
Asset Type
Retail
Closing
Oct 18, 2021
About this deal
AI
An approximately 4.87-acre retail property located at 3899 North Haverhill Road in West Palm Beach has been sold for a total of $12,500,000. The transaction took place on October 18, 2021. The property spans a total of 57,070 square feet, resulting in a price per square foot of $219. The sale involved Vad PBI Retail LLC as the buyer, represented by Vadzim Yazvinski. Allstate Investments, represented by Richard Grondin, served as the seller. Lorrie Garbarz from NNN Investment Advisors acted as the broker in the deal.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $12,500,000
- Address: 3899 North Haverhill Road, West Palm Beach
- Market: West Palm Beach
- Size: 4.87 acres
Vad PBI Retail LLC, led by Vadzim Yazvinski, completed the purchase of the retail property from Allstate Investments, where Richard Grondin represented the seller. The deal was facilitated by Lorrie Garbarz of NNN Investment Advisors acting as the broker.
On the Map
$12,500,000
$219/SF
Retail
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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
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93