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
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.
Players
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