Dale Stringer Acquires Retail Property On South Congress Avenue In West Palm Beach For $2.8M
SOLD
$2,825,000
Florida
See Similar DealsRetail3,039 SF
Sold 01/10/2024
SOLD
Dale Stringer Acquires Retail Property On South Congress Avenue In West Palm Beach For $2.8M
815 South Congress Avenue
See Similar DealsRetail3,039 SF
Sold 01/10/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$929
Total Square Footage:3,039 SF
Transaction Type:Sale
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.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$150,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,036.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,391.94
Annual Debt Service$160,703.29
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