John Cioffi Acquires Retail Property In Islamorada For $2.05M
SOLD
Florida
See Similar DealsRetail9,000 SF
Sold 07/20/2020
SOLD
John Cioffi Acquires Retail Property In Islamorada For $2.05M
82790 Overseas Highway, Islamorada, FL, USA
See Similar DealsRetail9,000 SF
Sold 07/20/2020
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
SELLER
Details
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Deal Type
30 years
10 years
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
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