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Roman Jones Acquires Church In Miami From Trinity Christian Episcopal Church For $2.5M

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SOLD
$2,500,000

Florida

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Church3,941 SF
Sold 12/06/2024
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Property Image
SOLD

Roman Jones Acquires Church In Miami From Trinity Christian Episcopal Church For $2.5M

511 Northwest 4th Street

See Similar Deals
Church3,941 SF
Sold 12/06/2024
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Summary

FLORIDA
Asset Type:Church
Price Per Square Foot:$634
Total Square Footage:3,941 SF
Transaction Type:Sale

The property involved in this transaction is a church located at 511 Northwest 4th Street in the Miami market. The asset encompasses a total square footage of 3,941 and was sold for a price of $2,500,000, translating to a price per square foot of $634.

Summary of transaction details:

The transaction involved key players, including the buyer Roman Jones, who acquired the property from the Trinity Christian Episcopal Church of Miami. The buyers were represented by Christian Arrabal from AdviseCRE, while Greg Greer from Charles Rutenberg Realty represented the seller in this deal.

Players

3 deals$139M volume(786) 443-3133
BROKER

Details

SOLD
IMAGE: Christian Arrabal, Roman Jones & Greg Greer DATE: 12/06/2024 ADDRESS: 511 Northwest 4th Street MARKET: Miami ASSET TYPE: Church BUYER: Roman Jones (@TheRomanJones) SELLER: Trinity Christian Episcopal Church of Miami BUYER'S REP: Christian Arrabal (@Arraballer) - AdviseCRE (@AdviseCRE) SELLER'S REP: Greg Greer - Charles Rutenberg Realty (@ChRutenbergRealty) SALE PRICE: $2,500,000 SF: 3,941 ~ PPSF: $634

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
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