Dale Stringer Acquires Retail Property On South Congress Avenue In West Palm Beach For $2.8M
815 South Congress Avenue
$2,825,000
$929/SF
Building Size
3,039 SF
Asset Type
Retail
Closing
Jan 10, 2024
AI
Dale Stringer has acquired a retail property located at 815 South Congress Avenue in West Palm Beach. The property was sold by Charles & Aichung Wang for a total price of $2,825,000. The retail asset spans across 3,039 square feet, resulting in a price per square foot of $930.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,825,000
- Address: 815 South Congress Avenue, West Palm Beach
- Buyer: Dale Stringer
- Seller: Charles & Aichung Wang
- Buyer's Representative: Scott Sandelin - Marcus & Millichap
- Seller's Representative: Howard Bregman - Marcus & Millichap
- Square Footage: 3,039
- Price per Square Foot: $930
Scott Sandelin from Marcus & Millichap represented Dale Stringer as the buyer in the transaction, while Howard Bregman, also from Marcus & Millichap, represented the sellers, Charles & Aichung Wang.
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
5.62%
Cash-on-Cash
-1.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93