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910 Lincoln Road

Scott Sherman Of Torose Equities Acquires Retail Property In Miami Beach For $10.46M
SOLDRetail

Scott Sherman Of Torose Equities Acquires Retail Property In Miami Beach For $10.46M

910 Lincoln Road

$10,460,000

$1,220/SF

Building Size

8,573 SF

Asset Type

Retail

Closing

Jul 25, 2024

AI

The property asset involved in this transaction is a retail space located at 910 Lincoln Road, Miami Beach. The sale price of the property was $10,460,000. It encompasses a total area of 8,573 square feet, resulting in a price per square foot of $1,220.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $10,460,000
  • Buyer: Scott Sherman - Torose Equities
  • Seller: Invesco Real Estate
  • Broker: Zach Winkler - JLL

This transaction highlights the roles of key individuals and companies involved. Scott Sherman represented Torose Equities as the buyer of the retail asset, while Invesco Real Estate acted as the seller. The broker facilitating the transaction was Zach Winkler from JLL, ensuring the deal's completion.

Players

Zach Winkler

JLL

Broker

$66.9M

vol

6 deals

Broker

Miami Beach 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

1.52%

Cash-on-Cash

-0.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93