Michael Saba And Michael Saba Jr Purchase Retail Property From El Car Wash For $6.8M
8760 West Atlantic Avenue
$6,800,000
$1,833/SF
Building Size
3,709 SF
Asset Type
Retail
Closing
Dec 6, 2024
AI
The property asset involved in this transaction is a retail space located at 8760 West Atlantic Avenue in Delray Beach. The transaction was finalized for a total of $6,800,000 and encompasses a space measuring 3,709 square feet, which breaks down to a price per square foot of $1,833.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,800,000
- Address: 8760 West Atlantic Avenue
- Market: Delray Beach
- Square Footage: 3,709
- Price Per Square Foot: $1,833
- Buyer: Michael Saba & Michael Saba Jr
- Seller: El Car Wash
- Broker: Aron Cline - Berkeley Capital Advisors
This deal was represented by Aron Cline, who acted as the broker through Berkeley Capital Advisors, facilitating the transaction between the buyers, Michael Saba and Michael Saba Jr., and the seller, El Car Wash.
Players
Delray Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93