Masoud Shojaee's Shoma Group Acquires Development Site & Retail In North Bay Village For $15.8M
SOLD
$15,800,000
Florida
See Similar DealsDevelopment Site
Sold 05/13/2020
SOLD
Masoud Shojaee's Shoma Group Acquires Development Site & Retail In North Bay Village For $15.8M
1850 79th Street Causeway, North Bay Village, FL 33141, USA
See Similar DealsDevelopment Site
Sold 05/13/2020
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
The property involved in this closed transaction is a development site and retail space located at 1850 79th Street Causeway & 1872 79th Causeway in North Bay Village. The sale took place on May 13, 2021, with a sale price of $15,800,000.
Summary of transaction details
- Property Type: Development Site & Retail
- Sale Price: $15,800,000
- Address: 1850 79th Street Causeway & 1872 79th Causeway
- Market: North Bay Village
The buyer in this transaction is Masoud Shojaee, represented by the Shoma Group. The seller consists of The Atkinson Trust, represented by Charles & James Edwards, as well as NBV Corp., represented by Norman Ciment, Avi Ciment, and Shaun Grenald.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$842,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,134.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$74,900.06
Annual Debt Service$898,800.73
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