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17801 Northwest 2nd Place

Updated Dec 4, 2024

Bilt advertisement
Vous Church Acquires 100K SF Sanctuary In Miami Gardens For $12M
SOLDChurch

Vous Church Acquires 100K SF Sanctuary In Miami Gardens For $12M

17801 Northwest 2nd Place

$12,000,000

$120/SF

Building Size

100,000 SF

Asset Type

Church

Closing

Jan 29, 2024

About this deal

AI

A church located at 17801 Northwest Second Avenue in Miami Gardens has been sold for $12 million. The 100,000-square-foot sanctuary was acquired by Vous Church, led by Pastor Rich Wilkerson Jr., and DawnCheré Wilkerson from Trinity Church. The buyer assumed a $9.6 million mortgage from the seller, with the lender being Assemblies of God Loan Fund.

Summary of transaction details

  • Property Type: Church
  • Transaction Amount: $12,000,000
  • Address: 17801 Northwest Second Avenue
  • Market: Miami Gardens
  • Acres: 9
  • Square Footage: 100,000
  • Price Per Square Foot: $120
  • Buyer: Rich Wilkerson Jr. & DawnCheré Wilkerson - Vous Church
  • Seller: Trinity Church
  • Lender: Assemblies of God Loan Fund

Vouz Church, founded in 2015 as a youth ministry at Trinity Church, expanded to Miami Gardens with the acquisition of this 100,000-square-foot sanctuary. The church purchased the property for $12 million, assuming a $9.6 million mortgage from the seller. The lender involved in the transaction was the Assemblies of God Loan Fund.

Players

Rich Wilkerson Jr.

Vous Church

Buyer

$24.9M

vol

2 deals

Buyer
Vous Church
Vous ChurchBuyer
Assemblies of God Loan Fund
Assemblies of God Loan FundLender

Miami Church Market Snapshot

Boundary boundary · Church · Sale transactions

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Deal FAQ

About $120 per square foot on a published $12M for 100,000 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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