REX Gryphon Restaurants Acquires Retail Asset On 50 Biscayne Boulevard In Miami For $5.8M
50 Biscayne Blvd Miami, FL 33132, USA
$5,800,000
$773/SF
Building Size
7,500 SF
Asset Type
Retail
Closing
May 25, 2023
About this deal
AI
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.
On the Map
$5,800,000
$773/SF
Retail
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Players
Miami 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
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93