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The Brauser Family Acquires Retail Properties At 5070 And 5080 West Atlantic Avenue For $3.89M

Property Image
SOLD
$3,886,000
Kevin Louie
Andreas Efthymiou
+ 2

Florida

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Retail10,948 SF
Sold
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Property Image
SOLD

The Brauser Family Acquires Retail Properties At 5070 And 5080 West Atlantic Avenue For $3.89M

5070 West Atlantic Avenue

See Similar Deals
Retail10,948 SF
Sold
Kevin Louie
Andreas Efthymiou
+ 2
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$355
Total Square Footage:10948 SF
Transaction Type:Sale

The retail properties located at 5070 West Atlantic Avenue and 5080 West Atlantic Avenue in Delray Beach, FL were sold for a total amount of $3,886,000. The total square footage of the assets is 5,474. The property at 5070 W Atlantic Avenue is occupied by a Taco Bell, while the 5080 W Atlantic Avenue property is home to a Burger King. The Taco Bell traded at a 4.5% cap rate, and the Burger King traded at a 4.25% cap rate.

Summary of transaction details:

The transaction involved multiple brokers who facilitated the sale, with Stephen R. Preuss Sr., Kevin Schmitz, Kevin Louie, and Andreas Efthymiou representing Ripco and Robert Sharfstein representing RPS Capital Management. Their involvement highlights the collaborative nature of the deal in the retail real estate market.

Players

Kevin Louie
122 deals$1B volume(718) 663-2642
BROKER

Andreas Efthymiou
Ripco
125 deals$1.1B volume
BROKER

Stephen R. Preuss Sr.
Ripco
253 deals$2B volume(718) 663-2639
BROKER

Kevin Schmitz
Ripco
108 deals$827.3M volume
BROKER

Robert Sharfstein
RPS Capital Management
12 deals$70.5M volume
BROKER

Details

SOLD
IMAGE: Stephen R. Preuss Sr., Kevin Schmitz, Robert Sharfstein, Kevin Louie & Andreas Efthymiou DATE: 10/29/2024 ADDRESS: 5070 West Atlantic Avenue & 5080 West Atlantic Avenue MARKET: Delray Beach, FL ASSET TYPE: Retail BUYER: The Brauser Family BROKERS: Stephen R. Preuss Sr. (@RipcoInvestmentSales), Kevin Schmitz (@Kevin.Schmitz_CRE), Kevin Louie (@Kevin.Louie_Investment_Sales), Andreas Efthymiou (@Andreas.E_Investment_Sales) - Ripco (@RipcoRealEstate) & Robert Sharfstein - RPS Capital Management SALE PRICE: $3,886,000 SF: 5,474 NOTE FROM BROKER: 5070 W Atlantic Avenue (Taco Bell) traded at a 4.5% cap rate, and 5080 W Atlantic Avenue (Burger King) traded at a 4.25% cap rate.

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

$207,253.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,806.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,421.62
Annual Debt Service$221,059.47