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Howard Chase's Mixed-Use Building Sold For $1.155M In Miami Beach With Elie Saada As Buyer's Rep

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SOLD
$1,155,000

Florida

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Mixed-use2,230 SF
Sold 09/12/2024
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Property Image
SOLD

Howard Chase's Mixed-Use Building Sold For $1.155M In Miami Beach With Elie Saada As Buyer's Rep

1141 71st Street

See Similar Deals
Mixed-use2,230 SF
Sold 09/12/2024
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Summary

FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$517
Total Square Footage:2,230 SF
Transaction Type:Sale

The transaction involved a free standing mixed-use building located at 1141 71st Street in Miami Beach. The property, which spans 2,230 square feet, was listed at an asking price of $1,290,000 and sold for $1,155,000, resulting in a price per square foot of $517.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,155,000
  • Address: 1141 71st Street
  • Market: Miami Beach
  • Square Footage: 2,230
  • Asking Price: $1,290,000
  • Price per Square Foot: $517
  • Buyer's Representative: Elie Saada - Royal Beach Realty
  • Seller's Representative: Howard Chase - Howard Chase Real Estate, LLC

This transaction highlights the involvement of Elie Saada representing the buyer, and Howard Chase representing the seller, both of whom are significant figures in the brokerage community. The property was noted for its location on burgeoning Normandy Isle, which played a role in the transaction's dynamics.

Players

2 deals$7.3M volume
BROKER

Elie Saada
1 deal$1.2M volume
BROKER

Details

SOLD
IMAGE: Howard Chase & Elie Saada DATE: 09/12/2024 ADDRESS: 1141 71st Street MARKET: Miami Beach ASSET TYPE: Mixed-use BUYER'S REP: Elie Saada (@Elie_Levi_Saada) - Royal Beach Realty SELLER'S REP: Howard Chase - Howard Chase Real Estate, LLC (@HowardChaseRealEstate) ASKING PRICE: $1,290,000 SALE PRICE: $1,155,000 SF: 2,230 ~ PPSF: $517 NOTE: Broker Note: Free standing mixed-use building on burgeoning Normandy Isle. Listed and sold by broker Howard Chase and buyer’s rep by Elie Saada

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

$61,600.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,103.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,475.29
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