IBERIC MALLS Acquires Retail Property From JESS SANTAMARIA In West Palm Beach For $10M
630 Royal Palm Beach Blvd
$10,000,000
$101/SF
Building Size
98,515 SF
Asset Type
Retail
Closing
May 24, 2021
About this deal
AI
The property asset involved in this transaction is a retail space located at 630 Royal Palm Beach Blvd in the West Palm Beach market. The transaction was executed for a price of $10,000,000.00 and encompasses a total square footage of 98,515.0.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,000,000.00
- Address: 630 Royal Palm Beach Blvd
- Market: West Palm Beach
- Square Footage: 98,515.0
- Buyer: Iberic Malls
- Seller: Jess Santamaria
- Broker: Tyler Kuhlman
This transaction features Iberic Malls as the buyer and Jess Santamaria as the seller. The deal was facilitated by broker Tyler Kuhlman, who represented the interests in the transaction.
On the Map
$10,000,000
$101/SF
Retail
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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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93