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6610 Cortez Road West

Matthew Silver Acquires Retail Property At 6610 Cortez Road West For $6.15 Million
SOLDMultiFamily

Matthew Silver Acquires Retail Property At 6610 Cortez Road West For $6.15 Million

6610 Cortez Road West

$6,150,000

$146/SF

Building Size

41,892 SF

Asset Type

MultiFamily

Closing

Aug 30, 2024

AI

The retail asset located at 6610 Cortez Road West in Bradenton has a transaction price of $6,150,000. The property features a total of 16 units and encompasses a square footage of 41,892, resulting in a price per unit of $384,375 and a price per square foot of $146.

Summary of transation details:

The transaction was facilitated by a team of brokers from Marcus & Millichap, including Tarek Chbeir, Ronnie Issenberg, Gabriel Britti, Ricardo Esteves, and Kevin Foo, representing both the buyer and seller throughout the process.

Players

Gabriel Britti

Marcus & Millichap

Broker

$502.2M

vol

70 deals

Broker

Bradenton MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.58%

Cash-on-Cash

-0.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93