Marcus & Millichap Brokers Sell Retail Property On Meridian Ave, Miami Beach For $15.5M
SOLD
$15,500,000
Florida
See Similar DealsRetail98,610 SF
Sold 08/31/2022
SOLD
Marcus & Millichap Brokers Sell Retail Property On Meridian Ave, Miami Beach For $15.5M
1675 Meridian Avenue
See Similar DealsRetail98,610 SF
Sold 08/31/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$157
Total Square Footage:98,610 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$826,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,068.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,477.91
Annual Debt Service$881,734.89
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