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
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