Roman Jones Acquires Church In Miami From Trinity Christian Episcopal Church For $2.5M
511 Northwest 4th Street
$2,500,000
$634/SF
Building Size
3,941 SF
Asset Type
Church
Closing
Dec 6, 2024
AI
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:
- Property Type: Church
- Transaction Amount: $2,500,000
- Buyer: Roman Jones
- Seller: Trinity Christian Episcopal Church of Miami
- Buyer's Representative: Christian Arrabal - AdviseCRE
- Seller's Representative: Greg Greer - Charles Rutenberg Realty
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
Miami Church Market Snapshot
Boundary boundary · Church · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93