CenterSquare Investment Management Acquires Retail Property In Boca Raton For $24.55M
SOLD
$24,550,000
Florida
See Similar DealsRetail46,000 SF
Sold 10/29/2021
SOLD
CenterSquare Investment Management Acquires Retail Property In Boca Raton For $24.55M
19102 Northwest 2nd Avenue, Miami, FL 33169, USA
See Similar DealsRetail46,000 SF
Sold 10/29/2021
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$533
Total Square Footage:46,000 SF
Transaction Type:Sale
CenterSquare Investment Management has acquired a retail property in Boca Raton for $24,550,000. Located at 9940 Yamato Road, 19102, 19110 & 19120 South State Road 7, the property spans approximately 10.8 acres. The transaction was facilitated by the seller, Power Center I - Martin Osher, and the buyer was represented by Douglas K. Mandel of Marcus & Millichap.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $24,550,000
- Square Footage: 46,000
- Price per Square Foot: $534
- Address: 9940 Yamato Road, 19102, 19110 & 19120 South State Road 7, Boca Raton
- Market: Boca Raton
The property acquisition by CenterSquare Investment Management was made possible through the representation of Douglas K. Mandel from Marcus & Millichap. This transaction showcases the investment firm's strategic move in the retail sector of Boca Raton.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,309,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$87,220.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$116,379.52
Annual Debt Service$1,396,554.30
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