SOLDRetail
Shlomo Melloul Buys Retail Property In Indialantic From Mike Sapourn For $6.75M
2324 N Highway A1a
$6,750,000
$227/SF
Building Size
29,650 SF
Asset Type
Retail
Closing
Jul 1, 2024
AI
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.
Players
Indialantic 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
2.35%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93