Aria Mehrabi Of Pacific Star Capital Acquires Retail & Land In Edgewater For $24M
SOLD
$24,000,000
Florida
See Similar DealsRetail4,889 SF
Sold 01/13/2022
SOLD
Aria Mehrabi Of Pacific Star Capital Acquires Retail & Land In Edgewater For $24M
3600 Biscayne Boulevard, Miami, Florida 33137, United States
See Similar DealsRetail4,889 SF
Sold 01/13/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$4,909
Total Square Footage:4,889 SF
Transaction Type:Sale
A retail and land property located at 3600 Biscayne Boulevard & 221 Northeast 36th Street in the Edgewater market has been sold. The property spans approximately 1.2 acres and was purchased for a total of $24,000,000. It offers a total square footage of 4,889, resulting in a price per square foot of $4,909.
Summary of transaction details
- Property Type: Retail & Land
- Transaction Amount: $24,000,000
- Market: Edgewater
- Address: 3600 Biscayne Boulevard & 221 Northeast 36th Street
- Size: 1.2 acres
The buyer of the property is Aria Mehrabi, representing Pacific Star Capital. Aria Mehrabi acquired the property for a total of $24,000,000. The transaction involved a retail and land asset with a total square footage of 4,889 and a price per square foot of $4,909.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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