Scott Sherman Of Torose Equities Acquires Retail Property In Miami Beach For $10.46M
SOLD
$10,460,000
Florida
See Similar DealsRetail8,573 SF
Sold 07/25/2024
SOLD
Scott Sherman Of Torose Equities Acquires Retail Property In Miami Beach For $10.46M
910 Lincoln Road
See Similar DealsRetail8,573 SF
Sold 07/25/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,220
Total Square Footage:8,573 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$557,866.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,162.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,585.74
Annual Debt Service$595,028.84
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