SVN Commercial Partners sells antique auto dealer
A piece of local auto history is changing hands.
Ragtop Motorcars recently sold its iconic 3,167 square-foot building located at 1422 Old Okeechobee Road in West Palm Beach. The building, which includes an additional buildable lot, sold for $1,200,000, making it one of the top sales in the area for the past five years. Ragtops, an antique and special interest collectible automobile dealership, event venue, and automotive museum, will still operate its other location at 2025 N. Old Dixie Highway in West Palm Beach. The SVN team also brought in the buyer, 1422 Old Okeechobee, LLC.
Rob Hamman’s Team at SVN Commercial Partners represented Ragtop in the sale. The commercial real estate advisory firm founded in 1987 has more than 200 locations, including a long-established Jupiter office and a recently opened Boca Raton office, serving Palm Beach, Martin, Broward and Dade counties.
“SVN and Rob Hamman did an excellent job in helping me downsize once again. And getting me the top price for my building. Both sides are very pleased with the outcome and when Ragtops decides to call it a day after 40 plus years, my first phone call will be to him,” said Ty Houck, CEO of Ragtops Palm Beach.