BH Properties Acquires Retail Asset On Miami Beach's Lincoln Road For $96.3M
SOLD
$96,300,000
Florida
See Similar DealsRetail253,168 SF
Sold 05/26/2022
SOLD
BH Properties Acquires Retail Asset On Miami Beach's Lincoln Road For $96.3M
1100 Lincoln Road, Miami Beach, Florida 33139, United States
See Similar DealsRetail253,168 SF
Sold 05/26/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$380
Total Square Footage:253,168 SF
Transaction Type:Sale
The retail property located at 1100 Lincoln Road in Miami Beach has been sold for a total price of $96,300,000. The property spans a total area of 253,168 square feet, resulting in a price per square foot of $380. The sale was finalized on May 26, 2022.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $96,300,000
- Address: 1100 Lincoln Road, Miami Beach
- Market: Miami Beach
- Buyer: BH Properties
- Seller: Vornado Realty Trust - Steven Roth
Steven Roth of Vornado Realty Trust represented the seller in this transaction. BH Properties acted as the buyer in the deal. The sale of the retail property is a significant development in the Miami Beach market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,136,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$342,133.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$456,511.13
Annual Debt Service$5,478,133.56
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