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1665 Alton Road, Miami Beac...

Robert Shor Acquires Retail Property On Alton Road In Miami Beach For $10M
SOLDRetail

Robert Shor Acquires Retail Property On Alton Road In Miami Beach For $10M

1665 Alton Road, Miami Beach, Florida 33139, United States

$10,000,000

$1,111/SF

Building Size

9,000 SF

Asset Type

Retail

Closing

Sep 6, 2022

AI

A retail property located at 1665 Alton Road in Miami Beach has been sold for $10,000,000. The property spans over 9,000 square feet, resulting in a price per square foot of $1,111. The sale took place on September 7, 2022.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $10,000,000
  • Address: 1665 Alton Road, Miami Beach
  • Market: Miami Beach

Robert Shor acted as the buyer for this transaction, while Secured Debt Investments served as the seller. Seth Gadinsky, representing Gadinsky Real Estate, assisted Robert Shor as the buyer's representative. Irma Figueroa and Vicki Freeman, from The Comras Company, acted as the seller's representatives.

Players

Irma Figueroa

The Comras Company

Broker

$10M

vol

6 deals

Broker

Robert Shor

Buyer

$49.3M

vol

2 deals

Buyer
SI
Secured Debt InvestmentsSeller

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

1.59%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93