Potamkin Companies Acquires Retail Property In Miami Beach For $10.4M
1695 Alton Road, Miami Beach, Florida 33139, United States
$10,400,000
$693/SF
Building Size
15,000 SF
Asset Type
Retail
Closing
Feb 2, 2022
About this deal
AI
The retail property located at 1695 Alton Rd in Miami Beach has been sold for a price of $10,400,000. The property spans approximately 15,000 square feet, resulting in a price per square foot of $693. The transaction took place on February 3, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $10,400,000
Potamkin Companies acquired the property, with their representative Marc Chasin from Urban Central Realty Advisors acting on their behalf. On the other side, Rich Tallman from La Playa Properties represented the seller.
On the Map
$10,400,000
$693/SF
Retail
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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
1.53%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93