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Michael Saba, Michael Saba Jr. & Cassandra Saba Acquire Retail Asset From Juan Ruiz For $5M

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SOLD
$5,000,000

Florida

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Retail21,490 SF
Sold 10/31/2024
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Property Image
SOLD

Michael Saba, Michael Saba Jr. & Cassandra Saba Acquire Retail Asset From Juan Ruiz For $5M

7000 Charleston Shores Boulevard

See Similar Deals
Retail21,490 SF
Sold 10/31/2024
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$232
Total Square Footage:21,490 SF
Transaction Type:Sale

The property asset involved in this transaction is located at 7000 Charleston Shores Boulevard in Lake Worth. It is categorized as a retail asset with a total area of 21,490 square feet. The sale price of the property was $5,000,000, resulting in a price per square foot of $232.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $5,000,000
  • Address: 7000 Charleston Shores Boulevard
  • Market: Lake Worth
  • Square Footage: 21,490
  • Price per Square Foot: $232
  • Buyer: Michael Saba, Michael Saba Jr. & Cassandra Saba
  • Seller: Juan Ruiz
  • Buyer's Representative: Michael Mandel - Atlantic Commercial Group
  • Seller's Representative: Andrea Gonzalez - Beachfront Realty Inc

The transaction includes key individuals such as Michael Mandel, who represented the buyers, and Andrea Gonzalez, who represented the seller. This highlights the involvement of Atlantic Commercial Group and Beachfront Realty Inc in facilitating the sale. The buyers consist of Michael Saba, Michael Saba Jr., and Cassandra Saba, while the seller is Juan Ruiz.

Players

Michael Mandel
2 deals$14M volume(561) 706-2905
BROKER

Details

SOLD
IMAGE: Michael Mandel, Andrea Gonzalez, Michael Saba, Cassandra Saba & Michael Saba Jr. DATE: 10/31/2024 ADDRESS: 7000 Charleston Shores Boulevard MARKET: Lake Worth ASSET TYPE: Retail BUYER: Michael Saba, Michael Saba Jr. & Cassandra Saba SELLER: Juan Ruiz BUYER'S REP: Michael Mandel (@Michael_M_561) - Atlantic Commercial Group (@AtlanticCommercial) SELLER'S REP: Andrea Gonzalez - Beachfront Realty Inc SALE PRICE: $5,000,000 SF: 21,490 ~ PPSF: $232

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

$266,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61