Emilio Picco Sells Retail Condo At 260 Crandon Boulevard In Key Biscayne For $1.375M
260 Crandon Boulevard
$1,375,000
$1,317/SF
Building Size
1,044 SF
Asset Type
Retail
Closing
Apr 10, 2025
About this deal
AI
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
- Rent Increase: 3% with each renewal option
The deal highlights the collaboration between FA Commercial and their repeat client, , 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.
On the Map
$1,375,000
$1,317/SF
Retail
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Players
Key Biscayne Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Deal FAQ
About $1.3K per square foot on a published $1.4M for 1,044 square feet (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.54%
Cash-on-Cash
-3.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93