Marcus & Millichap Brokers $3.6M Sale Of Retail Property On Biscayne Boulevard In Miami
11720 Biscayne Boulevard, North Miami, Florida 33181, United States
$3,630,000
$646/SF
Building Size
5,613 SF
Asset Type
Retail
Closing
Oct 22, 2022
About this deal
AI
The retail property located at 11720 Biscayne Boulevard in Miami has been sold for $3,630,000. The transaction took place on October 23, 2022. The property spans across 5,613 square feet with a price per square foot of $647. The lot size is 25,210 square feet, resulting in a price per lot square foot of $144. Drew Kristol and Kirk Olson from Marcus & Millichap represented the buyer and seller in this deal.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $3,630,000
- Square Footage: 5,613
- Price per Square Foot: $647
- Lot Size: 25,210 square feet
- Price per Lot Square Foot: $144
- Market: Miami
- Brokers: Drew Kristol & Kirk Olson - Marcus & Millichap
Drew Kristol and Kirk Olson from Marcus & Millichap played crucial roles in representing the buyer and seller in this transaction. Their expertise and negotiation skills helped facilitate the successful sale of the retail property at 11720 Biscayne Boulevard in Miami.
Players
North Miami Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.37%
Cash-on-Cash
-1.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93