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Michael J. Saba Jr. & Michael J. Saba Sr. Acquire Car Wash In West Palm Beach For $5.6M

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SOLD
$5,629,630

Florida

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Retail2,597 SF
Sold 12/21/2023
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Property Image
SOLD

Michael J. Saba Jr. & Michael J. Saba Sr. Acquire Car Wash In West Palm Beach For $5.6M

4129 West Blue Heron Boulevard

See Similar Deals
Retail2,597 SF
Sold 12/21/2023
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$2,167
Total Square Footage:2,597 SF
Transaction Type:Sale

Located at 4129 West Blue Heron Boulevard in West Palm Beach, the recently sold property is a car wash. Spanning 2,597 square feet, the car wash was sold for a sale price of $5,629,630, which translates to a price per square foot of $2,168. The transaction took place on December 21, 2023.

Summary of transaction details

  • Property Type: Car Wash
  • Transaction Amount: $5,629,630
  • Address: 4129 West Blue Heron Boulevard
  • Market: West Palm Beach
  • Buyer: Michael J. Saba Jr. & Michael J. Saba Sr.
  • Seller: El Car Wash
  • Asking Price: $6,333,333
  • Square Footage: 2,597
  • Price Per Square Foot: $2,168

The car wash transaction was facilitated by Michael J. Saba Jr. & Michael J. Saba Sr., who purchased the property. The seller, El Car Wash, agreed on a sale price of $5,629,630, which was lower than the initial asking price of $6,333,333.

Players

7 deals$41.2M volume
BUYER

4 deals$26.4M volume
BUYER

SELLER

Details

SOLD
IMAGE: Michael J. Saba Sr. & Michael J. Saba Jr. DATE: 12/21/2023 ADDRESS: 4129 West Blue Heron Boulevard MARKET: West Palm Beach ASSET TYPE: Car Wash BUYER: Michael J. Saba Jr. (@Rexles) & Michael J. Saba Sr. (@MichaelSabaSr) SELLER: El Car Wash ASKING PRICE: $6,333,333 SALE PRICE: $5,629,630 SF: 2,597 ~ PPSF: $2,168

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

$300,246.92

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,000.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,687.32
Annual Debt Service$320,247.82