Limestone Asset Management Acquires Miami Beach Retail Property For $12M

Located at 850 Commerce Street in Miami Beach, this retail property encompasses an area of 0.21 acres. The sale of this property took place on 05/02/2022.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $12,000,000
• Address: 850 Commerce Street
• Market: Miami Beach
• Asset Type: Retail
• Acres: 0.21

The buyer of this property was Limestone Asset Management, represented by Ibrahim Al-Rashid. The seller, Commerce Street Properties, LLC, engaged the services of Alex Sharrin from JLL as their representative. Kevin Sanz from Orion Real Estate Group acted as the buyer's representative.

First National Bank of South Miami provided the necessary financing for this transaction.

The property spans a total of 7,835 square feet, resulting in a price per square foot of $1,532. The lot size measures 9,148 square feet, leading to a price per lot square foot of $1,312.