Shlomo Melloul Buys Retail Property In Indialantic From Mike Sapourn For $6.75M
SOLD
$6,750,000
Florida
See Similar DealsRetail29,650 SF
Sold 07/01/2024
SOLD
Shlomo Melloul Buys Retail Property In Indialantic From Mike Sapourn For $6.75M
2324 N Highway A1a
See Similar DealsRetail29,650 SF
Sold 07/01/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$227
Total Square Footage:29,650 SF
Transaction Type:Sale
The retail property located at 2324 North Hwy A1a in Indialantic, FL, was sold for $6,750,000. The property spans 29,650 square feet, resulting in a price per square foot of $228.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,750,000
- Buyer: Shlomo Melloul
- Seller: Mike Sapourn
- Brokers: Brandon Senia & Rob Goldberg - Matthews Real Estate Investment Services
Brandon Senia and Rob Goldberg from Matthews Real Estate Investment Services represented the buyer and seller, respectively, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$360,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,981.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,998.44
Annual Debt Service$383,981.32
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