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7935 Biscayne Blvd, Miami, ...

Soner Gedik Acquires Retail Property In Upper East Side, Miami For $2.35M
SOLDRetail

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

Alfredo Riascos

Gridline Properties

Broker

$331.2M

vol

49 deals

Broker

Soner Gedik

Buyer

$3.8M

vol

2 deals

Buyer

Avra Jain

Seller

$76.2M

vol

12 deals

Seller

Market Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

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