PB Rental Properties LLC Acquires Tesla Dealership Near West Palm Beach For $13.15M
5544 Okeechobee Boulevard
$13,150,000
$579/SF
Building Size
22,683 SF
Asset Type
Retail
Closing
Oct 12, 2023
About this deal
AI
A Tesla dealership near West Palm Beach in Palm Beach County has been sold for $13.15 million. The property, located at 5544 Okeechobee Boulevard, spans 3.62 acres and offers a total of 22,683 square feet of space. The sale price equates to a price per square foot of $580, reflecting the value of the asset in the market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $13,150,000
- Address: 5544 Okeechobee Boulevard
- Market: West Palm Beach
- Acres: 3.62
PB Rental Properties LLC, represented by David W. Spiegel, acquired the property from Hanson West Palm Beach LLC, with Carol MacFarland acting as the seller's representative. The sale represents a significant investment opportunity, considering the previous transaction in 2020 when the property was traded for $12.87 million. The growth of Tesla further enhances the property's potential as a reliable investment.
Players
West Palm Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Browse West Palm Beach retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.21%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93