David Johnson Of Johnson Automotive Group Acquires Retail Property For $25M In Miami/Edgewater
2121 Biscayne Blvd
$25,000,000
$575/SF
Building Size
43,427 SF
Asset Type
Retail
Closing
Mar 1, 2024
AI
The retail property located at 2121 Biscayne Blvd in Miami/Edgewater was recently sold for $25,000,000. The building spans 43,427 square feet with a price per square foot of $576. Additionally, the property includes 21,501 square feet of land, valued at $1,163 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $25,000,000
- Buyer: David Johnson - Johnson Automotive Group
- Seller: Shirin & Barkat A. Daredia - SIKKA Investments
- Broker: Rani Hussami - APEX Capital Realty
The sale was facilitated by Rani Hussami of APEX Capital Realty, representing the buyer and seller, David Johnson of Johnson Automotive Group, and Shirin & Barkat A. Daredia of SIKKA Investments. The transaction underscores the active commercial real estate market in Miami/Edgewater, showcasing the confidence of investors in the area.
Market 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93