Aria Mehrabi Of Pacific Star Capital Acquires Retail & Land In Edgewater For $24M
3600 Biscayne Boulevard, Miami, Florida 33137, United States
$24,000,000
$4,909/SF
Building Size
4,889 SF
Asset Type
Retail
Closing
Jan 13, 2022
AI
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.
Miami Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93