Michael Saba And Michael Saba Jr Purchase Retail Property From El Car Wash For $6.8M
SOLD
$6,800,000
Florida
See Similar DealsRetail3,709 SF
Sold 12/06/2024
SOLD
Michael Saba And Michael Saba Jr Purchase Retail Property From El Car Wash For $6.8M
8760 West Atlantic Avenue
See Similar DealsRetail3,709 SF
Sold 12/06/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,833
Total Square Footage:3,709 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$362,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,158.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,235.47
Annual Debt Service$386,825.63
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