Ben Mandell Of Tricera Capital Acquires Retail Property In Miami Beach For $13.6M
SOLD
$13,600,000
+ 1
Florida
See Similar DealsRetail24,259 SF
Sold 07/29/2024
SOLD
Ben Mandell Of Tricera Capital Acquires Retail Property In Miami Beach For $13.6M
318 Lincoln Road
See Similar DealsRetail24,259 SF
Sold 07/29/2024
+ 1
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$560
Total Square Footage:24,259 SF
Transaction Type:Sale
The property involved in this transaction is a retail asset located at 318 Lincoln Road, Miami Beach. The sale price was $13,600,000, with a total square footage of 24,259, resulting in a price per square foot of $560.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $13,600,000
- Address: 318 Lincoln Road
- Market: Miami Beach
- Square Footage: 24,259
- Price per Square Foot: $560
- Buyer: Ben Mandell - Tricera Capital
- Seller: RFR
- Brokers: Eric Williams, Jorge Portela, Zach Winkler & Michael Kavaler - JLL
The transaction included key representatives from JLL, with Eric Williams, Jorge Portela, Zach Winkler, and Michael Kavaler acting as brokers in the deal. Ben Mandell represented the interests of the buyer, Tricera Capital, while RFR was the seller in this closed property transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$725,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,317.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,470.94
Annual Debt Service$773,651.26
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