Updated Oct 29, 2024
Inversiones Sion Acquires Mixed-use Property In Miami River District For $7.9M
1400 Northwest 17th Avenue, Miami, FL, USA & 1400 Northwest 17th Avenue, Miami, FL, USA
$7,900,000
$682/SF
Building Size
11,577 SF
Asset Type
Development Site
Closing
Mar 19, 2019
About this deal
AI
Built in 1975, the mixed-use property located at 1400-1404 Northwest 17th Avenue in Miami's Miami River District was recently sold for $7,900,000. The property spans 11,577 square feet, resulting in a price per square foot of $682. The transaction took place on March 20, 2019.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $7,900,000
- Address: 1400-1404 Northwest 17th Avenue, Miami
- Market: Miami River District
The property was sold by Linkpoint Properties, specifically by Alex Sanchez, Camilo Niño, and Ricardo Uribe, through their company Linkpoint Miami River LLC. The buyer of the property is Inversiones Sion LL. The sale was facilitated by brokers Alfonso Jaramillo and Alexandra Escudero from Fortune International Realty.
Notably, the building is currently occupied by a JPMorgan Chase Bank branch. This transaction showcases the successful sale of the property by Linkpoint, further highlighting their involvement in the Miami real estate market.
On the Map
$7,900,000
$682/SF
Development Site
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Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.01%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93