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Molina Auto Sales Purchases 0.39 Acre Land In Hialeah From Louis Alexander Jr. For $1.6M
SOLD
$1,600,000
Florida
See Similar DealsLand
Sold 11/13/2024
SOLD
Molina Auto Sales Purchases 0.39 Acre Land In Hialeah From Louis Alexander Jr. For $1.6M
4245 East 8th Avenue & 4188 East 8th Court
See Similar DealsLand
Sold 11/13/2024
Summary
FLORIDA
Asset Type:Land
Transaction Type:Sale
Molina Auto Sales purchased a 0.39-acre commercial property located at 4245 East 8th Avenue & 4188 East 8th Court in Hialeah for $1.6 million. The property, which is currently operating as an auto dealership, features a 1,008-square-foot office building and is zoned C-2.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $1,600,000
- Buyer: Molina Auto Sales
- Seller: Louis Alexander Jr.
- Brokers: Carlos Fausto Miranda & Moises Figueroa - Fausto Commercial Realty Consultants
- Mortgage Amount: $800,000
- Mortgage Provider: Arlyns De La Riva
- Market: Hialeah
- Acres: 0.39
The transaction involved Carlos Fausto Miranda and Moises Figueroa, representing the buyer Molina Auto Sales in the deal. The property transfer was part of a business operation related to an auto dealership and included financing arrangements secured with a mortgage.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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