Walgreens Co. Acquires Retail Property In Miami Shores For $4.9M With Apex Capital Realty As The Broker
9020 Biscayne Boulevard, Miami Shores, FL, USA
$4,900,000
$322/SF
Building Size
15,206 SF
Asset Type
Retail
Closing
Nov 18, 2021
About this deal
AI
A retail property located at 9020 Biscayne Boulevard in Miami Shores has been sold for $4,900,000. The property spans over 15,206 square feet, resulting in a price per square foot of $322. The sale was completed on 11/18/2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,900,000
The buyer of the property was Walgreens Co., while the seller was LNDMRK Development represented by Alex Karakhanian and Tricera Capital. The transaction was facilitated by brokers Miguel Pinto and Jamie Rose Maniscalco from Apex Capital Realty.
Players
Miami Shores 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
3.24%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93