Alex Garber Acquires Retail Property On Biscayne Boulevard For $8.1M With Joshua Longoria & Simon Assaf - Matthews REI
6800 Biscayne Boulevard
$8,100,000
$1,372/SF
Building Size
5,900 SF
Asset Type
Retail
Closing
Oct 30, 2023
About this deal
AI
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.
On the Map
$8,100,000
$1,372/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
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93