Collett Capital Acquires Retail Property In West Palm Beach For $11.65M
SOLD
$11,650,000
Florida
See Similar DealsRetail74,495 SF
Sold 03/04/20
SOLD
Collett Capital Acquires Retail Property In West Palm Beach For $11.65M
4075 North Haverhill Road, West Palm Beach, FL, USA
See Similar DealsRetail74,495 SF
Sold 03/04/20
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$156
Total Square Footage:74,495 SF
Transaction Type:Sale
A retail property located at 4075 North Haverhill Road in West Palm Beach has been sold for $11,650,000. The property spans approximately 74,495 square feet, resulting in a price per square foot of $156.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $11,650,000
- Date: 03/05/2020
- Address: 4075 North Haverhill Road
- Market: West Palm Beach
- Buyer: CC Paradise Place (Collett Capital - Tyler Covington)
- Seller: Paradise Place Station LLC (Phillips Edison & Company - Jeff Edison)
- Square Footage: 74,495
- Price Per Square Foot: $156
- Image: Jeff Edison
The buyer of the property is CC Paradise Place, represented by Tyler Covington from Collett Capital. The seller, Paradise Place Station LLC, was represented by Jeff Edison from Phillips Edison & Company.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$621,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,390.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,226.94
Annual Debt Service$662,723.32
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