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
About this deal
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.
On the Map
$6,750,000
$227/SF
Retail
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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