O'Connor Capital Partners Acquires Retail Property From Michael Kanoff In Delray Beach For $28.8M
SOLD
$28,800,000
Florida
See Similar DealsRetail86,118 SF
Sold 07/11/2025
SOLD
O'Connor Capital Partners Acquires Retail Property From Michael Kanoff In Delray Beach For $28.8M
14802 Military Trail
See Similar DealsRetail86,118 SF
Sold 07/11/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$334
Total Square Footage:86,118 SF
Transaction Type:Sale
The property asset involved in the transaction is a retail space located at 14802-14860 South Military Trail in Delray Beach. The sale price for the property was $28,800,000. The total square footage of the asset is 86,118, which amounts to a price per square foot of $334.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $28,800,000
- Address: 14802-14860 South Military Trail
- Market: Delray Beach
- Square Footage: 86,118
- Price Per Square Foot: $334
- Buyer: O'Connor Capital Partners
- Seller: Michael Kanoff
- Brokers: Doug Mandel & Zach Levine - Marcus & Millichap
Doug Mandel and Zach Levine represented the buyer, O'Connor Capital Partners, in this transaction. The seller, Michael Kanoff, was involved in the sale of this retail asset in the Delray Beach market, facilitated by the broker team from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,536,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$102,320.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$136,526.69
Annual Debt Service$1,638,320.32
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