Matt Buggenhagen & Jason Labriola Secure $3.396M Acquisition Loan For Miami Car Wash
$3,396,000
$970/SF
Building Size
3,500 SF
Asset Type
Mixed-use
Closing
Jul 3, 2024
AI
The property involved in the transaction is a 3,500 square foot Car Wash located at 9750 North Kendall Drive in Miami. The loan amount for the acquisition was $3,396,000 with a loan type of Acquisition Loan specifically for a Single Tenant NNN Car Wash.
Summary of transaction details:
- Property Type: Car Wash
- Transaction Amount: $3,396,000
- Address: 9750 North Kendall Drive
- Market: Miami
- Asset Type: Car Wash
- Size: 3,500 SF
- Brokers: Matt Buggenhagen & Jason Labriola - Meridian Capital Group
- Loan Terms: Single Tenant NNN Car Wash
Matt Buggenhagen and Jason Labriola from Meridian Capital Group served as the brokers in this acquisition loan deal, representing the parties involved in the sale of the Car Wash property in Miami.
Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.67%
Cash-on-Cash
-1.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93