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Scott Sherman Purchases Auto Repair Center From Agree Realty Corporation For $1.65M In West Palm Beach

Property Image
SOLD
$1,650,000
Miguel Pinto
Jenni Fontana

Florida

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Retail5,500 SF
Sold 01/27/2025
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Property Image
SOLD

Scott Sherman Purchases Auto Repair Center From Agree Realty Corporation For $1.65M In West Palm Beach

515 South Dixie Highway

See Similar Deals
Retail5,500 SF
Sold 01/27/2025
Miguel Pinto
Jenni Fontana
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$300
Total Square Footage:5,500 SF
Transaction Type:Sale

Scott Sherman acquired a retail asset located at 515 South Dixie Highway in West Palm Beach. The transaction involved the sale of a 5,500 square foot auto repair center situated on a 0.27 acre site for a total of $1,650,000.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,650,000
  • Address: 515 South Dixie Highway
  • Market: West Palm Beach
  • Asset Size: 5,500 SF
  • Price Per SF: $300
  • Brokerage Firms: APEX Capital Realty
  • Buyer: Scott Sherman
  • Seller: Agree Realty Corporation
  • Broker Representatives: Jenni Fontana & Miguel Pinto

The transaction was facilitated by Jenni Fontana and Miguel Pinto, who served as the broker representatives from APEX Capital Realty in this deal between the buyer, Scott Sherman, and the seller, Agree Realty Corporation.

Players

Miguel Pinto
APEX Capital Realty
Miguel Pinto
50 deals$330.5M volume
BROKER
Jenni Fontana
APEX Capital Realty
Jenni Fontana
5 deals$12.5M volume(954) 892-3331
BROKER

Details

SOLD
IMAGE: Miguel Pinto & Jenni Fontana DATE: 01/27/2025 ADDRESS: 515 South Dixie Highway MARKET: West Palm Beach ASSET TYPE: Retail ~ ACRES: 0.27 BUYER: Scott Sherman SELLER: Agree Realty Corporation BROKERS: Jenni Fontana (@Jennisellstheblock) & Miguel Pinto (@Mmmiiiggguuueeellll) - APEX Capital Realty (@APEXCapitalRealty) SALE PRICE: $1,650,000 SF: 5,500 ~ PPSF: $300 NOTE: Scott Sherman purchased a 5,500-SF auto repair center on 0.27 acres for $1.65 million on 1/27/25 from Agree Realty Corporation. Jenni Fontana and Miguel Pinto of APEX Capital Realty brokered the deal.

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

$88,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,862.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,821.84
Annual Debt Service$93,862.10