Scott Sherman Purchases Auto Repair Center From Agree Realty Corporation For $1.65M In West Palm Beach
515 South Dixie Highway
$1,650,000
$300/SF
Building Size
5,500 SF
Asset Type
Retail
Closing
Jan 27, 2025
AI
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
West Palm 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
9.61%
Cash-on-Cash
-2.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93