SOLD
Fortec Acquires Special Purpose Property In Palm Beach Gardens For $5.3M
10300-10350 Riverside Dr
Building Size
—
Asset Type
—
Closing
Aug 5, 2022
AI
The special purpose property located at 10300-10350 Riverside Dr in Palm Beach Gardens has been sold. The property spans 13,446 square feet with a sale price of $5,300,000, resulting in a price per square foot of $394.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: $5,300,000
- Square Footage: 13,446
- Price per Square Foot: $394
- Address: 10300-10350 Riverside Dr, Palm Beach Gardens
The buyer for this transaction is FORTEC. They were represented by Reichel Realty & Investments and Colliers acted as the broker for the deal.
Players
FORTECBuyer
Market CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93