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318 Lincoln Road

Ben Mandell Of Tricera Capital Acquires Retail Property In Miami Beach For $13.6M
SOLDRetail

Ben Mandell Of Tricera Capital Acquires Retail Property In Miami Beach For $13.6M

318 Lincoln Road

$13,600,000

$560/SF

Building Size

24,259 SF

Asset Type

Retail

Closing

Jul 29, 2024

AI

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:

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.

Players

Eric Williams

Newmark

Broker

$2.8B

vol

53 deals

Broker

Miami Beach 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

1.17%

Cash-on-Cash

-0.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93