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5941 Biscayne Boulevard

Steve Saieh & Nawal Saieh Acquire Mixed-Use Asset In Miami For $3.55M
SOLDMixed-use

Steve Saieh & Nawal Saieh Acquire Mixed-Use Asset In Miami For $3.55M

5941 Biscayne Boulevard & 5943 Biscayne Boulevard

$3,550,000

$75/SF

Building Size

47,000 SF

Asset Type

Mixed-use

Closing

May 21, 2024

AI

The mixed-use property located at 5941 Biscayne Boulevard & 5943 Biscayne Boulevard in Miami was recently sold for $3,550,000. Spanning 23,500 square feet, the property was acquired at a price per square foot of $151.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,550,000
  • Address: 5941 Biscayne Boulevard & 5943 Biscayne Boulevard
  • Market: Miami

Steve Saieh & Nawal Saieh were the buyers in this transaction, while Adi Nahmani of AP Equities served as the seller. The deal was facilitated by Alessandro Saponaro from AFS Living and Luis Guevara from Chariff Realty Group as the brokers representing the parties involved in the sale.

Players

Alessandro Saponaro

AFS Living

Broker

$52.6M

vol

6 deals

Broker

Miami Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.47%

Cash-on-Cash

-1.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93