Marcus & Millichap Brokers Sell Retail Property On Meridian Ave, Miami Beach For $15.5M
1675 Meridian Avenue
$15,500,000
$157/SF
Building Size
98,610 SF
Asset Type
Retail
Closing
Aug 31, 2022
AI
The retail property located at 1675 Meridian Ave in Miami Beach has been sold for a price of $15,500,000. It spans a total area of 98,610 square feet, resulting in a price per square foot of $157. The transaction took place on 08/31/2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $15,500,000
- Square Footage: 98,610
- Price per Square Foot: $157
- Address: 1675 Meridian Ave, Miami Beach
- Market: Miami Beach
The sale of this retail property was facilitated by Scott Sandelin and Alejandro D'Alba from Marcus & Millichap. They acted as brokers representing the parties involved in the transaction.
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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93