Jonathan Candiotti Acquires Retail Property In Miami Beach From Ron Volk & Jerry Khan
1226 Normandy Drive, Miami Beach, FL 33141
$2,750,000
$421/SF
Building Size
6,518 SF
Asset Type
Retail
Closing
May 24, 2020
About this deal
AI
Located at 1226 Normandy Drive in Miami Beach, this retail property was recently sold in a closed transaction. The property, with an area of 6,518 square feet, boasts a prime location in the Miami Beach market. The sale price for the property was $2,750,000, which equates to a price per square foot of $422. The lot size is 11,476 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,750,000
- Address: 1226 Normandy Drive, Miami Beach
- Market: Miami Beach
The buyer of this retail property is Jonathan Candiotti, while the sellers are Ron Volk and Jerry Khan. The transaction was facilitated by Alfredo Riascos from Gridline Properties. Alfredo Riascos represented the buyer in the deal. The asking price for the property was the same as the sale price, making it a direct sale without any negotiation.
Miami Beach 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
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93