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
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