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John Cioffi Acquires Retail Property In Islamorada For $2.05M

Property Image
SOLD
$2,050,000

Florida

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Retail9,000 SF
Sold 07/20/2020
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Property Image
SOLD

John Cioffi Acquires Retail Property In Islamorada For $2.05M

82790 Overseas Highway, Islamorada, FL, USA

See Similar Deals
Retail9,000 SF
Sold 07/20/2020
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$227
Total Square Footage:9,000 SF
Transaction Type:Sale

An retail property located at 82790 Overseas Highway in Islamorada has been sold for $2,050,000. The property spans approximately 9,000 square feet, resulting in a price per square foot of $227. The lot size measures 24,829 square feet.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,050,000
  • Address: 82790 Overseas Highway
  • Market: Islamorada
  • Square Footage: 9,000
  • Price per Square Foot: $227
  • Lot Size: 24,829 square feet

The buyer of the property is John Cioffi, while the seller is IMC Equity Group. The transaction was facilitated by brokers Jordan Gimelstein and David Spitz from the Koniver Stern Group.

Players

Jordan Gimelstein
14 deals$172.4M volume
BROKER

Jordan Gimelstein
Inhouse Commercial
14 deals$172.4M volume
BROKER

David Spitz
9 deals$117.6M volume
BROKER

SELLER

Details

SOLD
IMAGE: Jordan Gimelstein & David Spitz DATE: 07/20/2021 ADDRESS: 82790 Overseas Highway MARKET: Islamorada ASSET TYPE: Retail BUYER: John Cioffi SELLER: IMC Equity Group BROKERS: Jordan Gimelstein & David Spitz - Koniver Stern Group SALE PRICE: $2,050,000 SF: 9,000 ~ PPSF: $227 LOT SF: 24,829

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$109,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,283.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,718.05
Annual Debt Service$116,616.55