Emilio Picco Sells Retail Condo At 260 Crandon Boulevard In Key Biscayne For $1.375M

This retail property is located at 260 Crandon Boulevard in Key Biscayne and is priced at $1,375,000. The asset comprises 1,044 square feet, translating to a price per square foot of $1,317. The property is a well-positioned NNN retail condo situated in The Square, Key Biscayne’s leading shopping center.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $1,375,000
• Square Footage: 1,044
• Price Per Square Foot: $1,317
• Address: 260 Crandon Boulevard
• Market: Key Biscayne
• Seller: Emilio Picco
• Brokers: Fabio Faerman & Sebastian Faerman - FA Commercial
• Lease: Secured through a 10-year lease with Freddo Gelato
• Rent Increase: 3% with each renewal option

The deal highlights the collaboration between FA Commercial and their repeat client, Freddo Gelato, who is continuing to expand in South Florida. The brokers, Fabio Faerman and Sebastian Faerman, played a key role in assisting the client by locating and negotiating the purchase of this off-market retail condo a few years ago, and now facilitated the exit of the investment through this sale-leaseback strategy.