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:
- Property Type: Retail
- Transaction Amount: $6,150,000
- Units: 16
- Square Footage: 41,892
- Price Per Unit: $384,375
- Price Per Square Foot: $146
- Buyer: Matthew Silver
- Seller: Hisham Kasi
- Brokers: Tarek Chbeir, Ronnie Issenberg, Gabriel Britti, Ricardo Esteves & Kevin Foo - Marcus & Millichap
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
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