SOLDWarehouse
Pejman Ghadimi Purchases Warehouse In Delray Beach For $3.65M From Mary & Richard Cohen
390 Southeast 2nd Avenue
$3,650,000
$578/SF
Building Size
6,309 SF
Asset Type
Warehouse
Closing
Aug 7, 2026
About this deal
AI
The property involved in this transaction is a warehouse located at 390 Southeast 2nd Avenue in Delray Beach. The sale price was $3,650,000, and the property encompasses 6,309 square feet, equating to a price per square foot of $578.
Summary of transaction details:
- Property Type: Warehouse
- Transaction Amount: $3,650,000
- Address: 390 Southeast 2nd Avenue
- Market: Delray Beach
- Square Footage: 6,309
- Price Per Square Foot: $578
- Buyer: Pejman Ghadimi
- Seller: Mary & Richard Cohen
- Seller's Representative: Mark Faeth - LRM Commercial Real Estate Advisors
Pejman Ghadimi is the buyer in this transaction, while Mary and Richard Cohen are the sellers. The deal was represented for the sellers by Mark Faeth, affiliated with LRM Commercial Real Estate Advisors, ensuring the transaction was managed professionally.
On the Map
$3,650,000
$578/SF
Warehouse
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Delray Beach Warehouse Market Snapshot
Boundary boundary · Warehouse · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.35%
Cash-on-Cash
-1.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93