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
Islamorada 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
7.74%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93