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Candor Capital Acquires Medical Office In Miami For $11M

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SOLD
$11,000,000

Florida

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Medical Office63,666 SF
Sold 10/16/2023
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Property Image
SOLD

Candor Capital Acquires Medical Office In Miami For $11M

151 Northwest 11th Street, 12550 Biscayne Boulevard & S Le Jeune Rd 1

See Similar Deals
Medical Office63,666 SF
Sold 10/16/2023
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Summary

FLORIDA
Asset Type:Medical Office
Price Per Square Foot:$172
Total Square Footage:63,666 SF
Transaction Type:Sale

A medical office property located at 151 Northwest 11th Street, 351 Northwest Le Jeune Road, and 12550 Biscayne Boulevard in Miami has been sold. The property, spanning 21,222 square feet, was purchased by Candor Capital, represented by Ben Meshel and Adam Ibrahim, for a total price of $11,000,000. The price per square foot for this transaction was $518.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: $11,000,000
  • Address: 151 Northwest 11th Street, 351 Northwest Le Jeune Road, and 12550 Biscayne Boulevard
  • Market: Miami
  • Buyers: Candor Capital - Ben Meshel and Adam Ibrahim
  • Seller: Rodolfo Dumenigo
  • Square Footage: 21,222
  • Price per Square Foot: $518

The acquisition was facilitated by Ben Meshel and Adam Ibrahim from Candor Capital. They acted as the buyer's representatives in the deal. On the other hand, Rodolfo Dumenigo served as the seller.

Players

Ben Meshel
15 deals$185.2M volume
BUYER

Adam Ibrahim
Candor Capital
12 deals$128.4M volume
BUYER

Details

SOLD
IMAGE: Ben Meshel & Adam Ibrahim DATE: 10/16/2023 ADDRESS: 151 Northwest 11th Street, 351 Northwest Le Jeune Road & 12550 Biscayne Boulevard MARKET: Miami ASSET TYPE: Medical Office BUYER: Candor Capital (@CandorCapital) - Ben Meshel (@BMeshel) & Adam Ibrahim SELLER: Rodolfo Dumenigo SALE PRICE: $11,000,000 SF: 21,222 ~ PPSF: $518

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$586,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34