facebook

traded

+ Submit
Home

/

Deals

/

Florida

/

Retail

/

Sale

/

82790 Overseas Highway, Isl...

John Cioffi Acquires Retail Property In Islamorada For $2.05M
SOLDRetail

John Cioffi Acquires Retail Property In Islamorada For $2.05M

82790 Overseas Highway, Islamorada, FL, USA

$2,050,000

$227/SF

Building Size

9,000 SF

Asset Type

Retail

Closing

Jul 20, 2020

AI

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

Inhouse Commercial

Broker

$180.4M

vol

15 deals

Broker
IG
IMC Equity GroupSeller

Islamorada 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

7.74%

Cash-on-Cash

-2.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93