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10300-10350 Riverside Dr

Fortec Acquires Special Purpose Property In Palm Beach Gardens For $5.3M
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

FORTEC
FORTECBuyer

Market CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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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