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1020 N Homestead Blvd, Home...

MMG Equity Partners Acquires Mixed-Use Property In Homestead For $4.2M
SOLDMixed-use

MMG Equity Partners Acquires Mixed-Use Property In Homestead For $4.2M

1020 N Homestead Blvd, Homestead, FL, USA

$4,200,000

$177/SF

Building Size

23,629 SF

Asset Type

Mixed-use

Closing

Nov 29, 2021

AI

A mixed-use property located at 1020 & 1090 N Homestead Blvd in Homestead has been sold for a price of $4,200,000. The property spans a total area of 23,629 square feet, resulting in a price per square foot of $178. The transaction took place on 11/29/2021.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $4,200,000
  • Address: 1020 & 1090 N Homestead Blvd
  • Market: Homestead

The buyer of the property is MMG Equity Partners represented by Gabe Navarro & Marcos Puente. On the other hand, the seller is David Tepper & Fred Moses. Rosendo Caveiro & Michael Fay from Avison Young acted as the seller's representative in the deal.

Players

Michael Fay

Avison Young

Broker

$1.4B

vol

49 deals

Broker
Gabe Navarro

Gabe Navarro

MMG Equity Partners

Buyer

$58.5M

vol

5 deals

Buyer

Homestead Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.78%

Cash-on-Cash

-1.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93