Beach Towing Acquires Commercial Property In Miami Beach For $6.5M
SOLD
$6,500,000
Florida
See Similar DealsCommercial17,936 SF
Sold 07/30/2020
SOLD
Beach Towing Acquires Commercial Property In Miami Beach For $6.5M
1349 Dade Boulevard, Miami Beach, FL 33139, USA
See Similar DealsCommercial17,936 SF
Sold 07/30/2020
Summary
FLORIDA
Asset Type:Commercial
Price Per Square Foot:$362
Total Square Footage:17,936 SF
Transaction Type:Sale
Located at 1349 Dade Boulevard in Miami Beach, this commercial property was recently sold in a closed transaction. The property spans 2,600 square feet and sits on a lot measuring 17,932 square feet. The sale price for this transaction was $6,500,000.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $6,500,000
- Date: 07/30/2021
- Market: Miami Beach
Beach Towing acquired the property from the Festa Family Trust. The sale was facilitated by Mika Mattingly and Cecilia Estevez from Colliers, along with Eric A. Gonzalez from Roca Gonzalez, P.A. acting as the seller's representatives.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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