Lucky Texan LLC Acquires Retail Property On Ocean Drive In Miami Beach For $30.85M
728 Ocean Drive, Miami Beach, FL 33139
$30,850,000
$3,066/SF
Building Size
10,062 SF
Asset Type
Retail
Closing
Jan 2, 2022
AI
A retail property located at 728 Ocean Drive in Miami Beach has been sold for a total price of $30,850,000. The property spans 10,062 square feet, resulting in a price per square foot of $3,066. The transaction took place on January 2, 2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $30,850,000
- Address: 728 Ocean Drive, Miami Beach
- Market: Miami Beach
- Buyer: Lucky Texan LLC, Sikka Investments LLC & Sikka Investments LLC - Shirin Daredia & Barkat Daredia
- Seller: Steven Kassin - Infinity Real Estate
The buyer of the property is Lucky Texan LLC, Sikka Investments LLC, and Sikka Investments LLC, represented by Shirin Daredia and Barkat Daredia. On the other hand, the seller is Steven Kassin from Infinity Real Estate.
Miami Beach 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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93