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8760 West Atlantic Avenue

Michael Saba And Michael Saba Jr Purchase Retail Property From El Car Wash For $6.8M
SOLDRetail

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

Aron Cline

Broker

$18.7M

vol

3 deals

Broker
Berkeley Capital Advisors
Berkeley Capital AdvisorsBrokerage

Delray Beach Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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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