REX Gryphon Restaurants Acquires Retail Asset On 50 Biscayne Boulevard In Miami For $5.8M
SOLD
$5,800,000
Florida
See Similar DealsRetail7,500 SF
Sold 05/25/2023
SOLD
REX Gryphon Restaurants Acquires Retail Asset On 50 Biscayne Boulevard In Miami For $5.8M
50 Biscayne Blvd Miami, FL 33132, USA
See Similar DealsRetail7,500 SF
Sold 05/25/2023
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$773
Total Square Footage:7,500 SF
Transaction Type:Sale
Located at 50 Biscayne Boulevard in Miami, this retail property has been sold in a closed transaction. The property spans 7,500 square feet and was sold for a price of $5,800,000, resulting in a price per square foot of $773.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,800,000
- Address: 50 Biscayne Boulevard
- Market: Miami
The buyer of this property is REX Gryphon Restaurants, represented by Brent Brown. On the other hand, TTN Holdings, represented by Glafira Tokarev, acted as the seller. The buyer's representative in this deal is Zach Winkler from JLL, while Arnaldo Cantero III from BGRS Commercial Real Estate Advisory represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$309,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,606.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,494.96
Annual Debt Service$329,939.51
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