Laconic Capital Advisors Closes Retail Deal In Palm Beach For $20.31M
SOLD
$20,310,000
Florida
See Similar DealsRetail75,000 SF
Sold 03/18/2024
SOLD
Laconic Capital Advisors Closes Retail Deal In Palm Beach For $20.31M
Retail75,000 SF
Sold 03/18/2024
Summary
Asset Type:Retail
Price Per Square Foot:$270
Total Square Footage:75,000 SF
Transaction Type:Sale
The transaction involved a retail asset located in Palm Beach, FL. The property spans 75,000 square feet and was sold for a total price of $20,310,000, translating to a price per square foot of $271.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $20,310,000
- Square Footage: 75,000
- Price Per Square Foot: $271
- Buyer: Shannon Waltchack
- Seller: Mike Keith - Russell Properties Of Tequesta
- Broker: Jake Hayutin - Laconic Capital Advisors
- Date of Transaction: 03/18/2024
- Market: Palm Beach, FL
Jake Hayutin represents Laconic Capital Advisors, which recently closed this flagship deal in Palm Beach. For further inquiries, interested parties are encouraged to contact Jake directly at (813) 370-0953 or via email at [email protected].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,083,199.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$72,157.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$96,279.76
Annual Debt Service$1,155,357.14
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