Soner Gedik Acquires Retail Property In Upper East Side, Miami For $2.35M
7935 Biscayne Blvd, Miami, FL 33138
$2,350,000
$422/SF
Building Size
5,566 SF
Asset Type
Retail
Closing
Aug 31, 2023
AI
The retail property located at 7935-7945 Biscayne Boulevard in the Upper East Side of Miami has been sold for a total price of $2,350,000. The property measures approximately 5,566 square feet, resulting in a price per square foot of $422. The transaction took place on August 31, 2023, with Soner Gedik as the buyer and Joseph DelVecchio & Avra Jain as the sellers.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,350,000
- Square Footage: 5,566
- Price per Square Foot: $422
- Address: 7935-7945 Biscayne Boulevard
- Market: Upper East Side, Miami
Representing the sellers in this transaction were Alfredo Riascos and Sydni Parrish from Gridline Properties. They served as the seller's representatives, facilitating the deal on behalf of Joseph DelVecchio and Avra Jain.
Players
Market 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
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93