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501 First Retail LLC Acquires Land From David M. Arditi In Miami For $4.5M
SOLD
$4,500,000
Florida
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Sold
SOLD
501 First Retail LLC Acquires Land From David M. Arditi In Miami For $4.5M
121 Northeast 5th Street
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Sold
Summary
FLORIDA
Asset Type:Land
Transaction Type:Sale
The asset involved in this transaction is a land parcel located at 501 Northeast 1st Avenue in the Miami market. It was sold for a total price of $4,500,000. The transaction occurred on February 2, 2026.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $4,500,000
- Buyer: 501 First Retail LLC
- Seller: David M. Arditi
- Transaction Date: February 2, 2026
- Location: 501 Northeast 1st Avenue, Miami
This transaction involved 501 First Retail LLC acquiring the land from David M. Arditi, marking a significant deal in the Miami real estate market. The parties involved facilitated the sale, contributing to the dynamics of land acquisition in the area.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55
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