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:
- 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.
Players
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