Alex Garber Acquires Retail Property On Biscayne Boulevard For $8.1M With Joshua Longoria & Simon Assaf - Matthews REI
SOLD
$8,100,000
Florida
See Similar DealsRetail5,900 SF
Sold 10/30/2023
SOLD
Alex Garber Acquires Retail Property On Biscayne Boulevard For $8.1M With Joshua Longoria & Simon Assaf - Matthews REI
6800 Biscayne Boulevard
See Similar DealsRetail5,900 SF
Sold 10/30/2023
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,372
Total Square Footage:5,900 SF
Transaction Type:Sale
The retail property located at 6800 Biscayne Boulevard in Miami has been sold in a transaction. The asset, which consists of a Chase Bank building, was sold for a total price of $8,100,000. The property spans 5,900 square feet, resulting in a price per square foot of $1,372.
Summary of transation details
- Property Type: Retail - Chase Bank
- Transaction Amount: $8,100,000
- Square Footage: 5,900
- Price per Square Foot: $1,372
- Address: 6800 Biscayne Boulevard, Miami
The buyer of the property is Alex Garber, while the seller is Andre Sieh. The transaction was facilitated by the brokers Joshua Longoria and Simon Assaf of Matthews Real Estate Investment Services.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$432,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,777.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,398.13
Annual Debt Service$460,777.59
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