Michael J. Saba Jr. & Michael J. Saba Sr. Acquire Car Wash In West Palm Beach For $5.6M
4129 West Blue Heron Boulevard
$5,629,630
$2,167/SF
Building Size
2,597 SF
Asset Type
Retail
Closing
Dec 21, 2023
About this deal
AI
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.
On the Map
$5,629,630
$2,167/SF
Retail
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Riviera 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
2.82%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93