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Palm Coast Invst LLC Acquires Retail Property In West Palm Beach For $24.75M

Property Image
SOLD
$24,750,000

Florida

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Retail246,753 SF
Sold 03/23/2022
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Property Image
SOLD

Palm Coast Invst LLC Acquires Retail Property In West Palm Beach For $24.75M

7629 Dixie Highway, West Palm Beach, Florida 33405, United States

See Similar Deals
Retail246,753 SF
Sold 03/23/2022
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$100
Total Square Footage:246,753 SF
Transaction Type:Sale

The retail property located at 7629 South Dixie Highway in West Palm Beach has been sold in a recent transaction. The property spans 21.3 acres and has a total square footage of 246,753. The sale price for this transaction was $24,750,000, resulting in a price per square foot of $100. The buyer of the property is Palm Coast Invst LLC, represented by Edmund H. Beebe and Johnstone Capital Partners. The seller is Dacar Management. Valley National Bank provided the financing for this transaction.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $24,750,000
  • Address: 7629 South Dixie Highway, West Palm Beach
  • Market: West Palm Beach
  • Acres: 21.3
  • Square Footage: 246,753
  • Price per Square Foot: $100

In addition to the buyer and seller, the key individuals and companies involved in this transaction include Palm Coast Invst LLC, Edmund H. Beebe, Johnstone Capital Partners, and Dacar Management. Valley National Bank acted as the lender for this deal.

Players

SELLER

Details

SOLD
IMAGE: 03/23/2022 ADDRESS: 7629 South Dixie Highway MARKET: West Palm Beach ASSET TYPE: Retail ~ ACRES: 21.3 BUYER: Palm Coast Invst LLC - Edmund H. Beebe - Johnstone Capital Partners SELLER: Dacar Management LENDER: Valley National Bank SALE PRICE: $24,750,000 SF: 246,753 ~ PPSF: $100

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$87,931.52
Cash-on-Cash Return-1.27%
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