Lincoln Road the Next Fifth Avenue? By JM Padron, CCIM

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Commercial Real Estate Agent with INTERNATIONAL COMMERCIAL ASSOCIATES BK3212919

Lincoln Road the Next Fifth Avenue?

A retail building at 635-639 Lincoln Road has traded for $34.8 million, this is. $6,527 per square feet. The building was built in 1935 and currently has two tenants in the 5,332 square feet premises.

The Seller is Camelot of Miami, LLC, the buyer is a Canadian investment firm.

If you do the math, at a 5% CAP rate, NNN rent should be around $330 per square feet, in other words the concept for these premises should sell at least $4,000 per square feet to be profitable.

As a reference Apple stores sell $6,000 per square feet and Tiffany & Co $3,000 per square feet.

Lincoln Road escalating prices place it in one of the most expensive sites in the US.

 

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International Commercial Associates Group covering South Florida and Latin America, with offices in Mexico City, Tijuana, Monterrey, Guadalajara, Queretaro, Bogota, Santiago, Buenos Aires, Lima, Quito y Guayaquil.

A full service Commercial Brokerage Firm with more than 200 commercial certified brokers, holding the most prestigious certifications, CCIM & MRICS

Contact our president at joems@msn.com or +52 55 81011549

VISIT OUR TRAINING @ COACHING SITE AT:

THEJMTEAM.COM.MX

 

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Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Hi...I noticed that you recently followed me. Thank you! You are writing some great posts.

Jan 31, 2016 12:14 AM #1
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Ellen Caruso
Daniel Gale Sotheby's International Realty - Glen Head, NY

Hi Jim, thanks for following me. It's great to see the excitement and values going up in your market as in NYC. I live near the Manhasset Americana and that's prime Real estate on Long Island.

Jan 31, 2016 01:53 AM #2
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JM Padron, CCIM, MRICS

CCIM, MRICS, Serving Mexico-USA Border
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