Benderson Development Co. Acquires Retail Property In Delray Beach For $9.4M
555 Northeast 5th Avenue, Delray Beach, FL, USA
$9,400,000
$275/SF
Building Size
34,087 SF
Asset Type
Retail
Closing
Feb 4, 2021
About this deal
AI
Located at 555 & 455 NE 5th Avenue in Delray Beach, this retail property was recently sold in a closed transaction. The property spans a total area of 34,087 square feet and was sold for a price of $9,400,000, resulting in a price per square foot of $276. The transaction took place on February 5, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $9,400,000
- Address: 555 & 455 NE 5th Avenue, Delray Beach
- Buyers: David G. Baldauf, Shaun Benderson, & Stephen C. Scalione - Benderson Development Co.
- Seller: Jodie W. McLean - Edens
- Brokers: Kirk D. Olson & Drew A. Kristol - Marcus & Millichap
- Market: Delray Beach
The buyers of this property were David G. Baldauf, Shaun Benderson, and Stephen C. Scalione, representing Benderson Development Co. On the other hand, Jodie W. McLean, the representative of Edens, acted as the seller in this transaction. The brokers involved in the deal were Kirk D. Olson and Drew A. Kristol from Marcus & Millichap.
On the Map
$9,400,000
$275/SF
Retail
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Players
Delray 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
1.69%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93