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Joseph Suarez Acquires Mixed-Use Property In Miami For $1.15M

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SOLD
$1,150,000

Florida

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Mixed-use
Sold 05/28/2024
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Property Image
SOLD

Joseph Suarez Acquires Mixed-Use Property In Miami For $1.15M

1186 Northwest 103rd Street

See Similar Deals
Mixed-use
Sold 05/28/2024
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Summary

FLORIDA
Asset Type:Mixed-use
Transaction Type:Sale

The property at 1186 Northwest 103rd Street in Miami is a mixed-use asset sold for $1,150,000. It comprises four units, including two 2-bedroom, 1-bathroom residential units and two commercial units - a grocery store and a restaurant. The building spans 6,487 square feet, equating to a price per square foot of $177.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,150,000
  • Buyer: Joseph Suarez
  • Seller: Cory Reiter
  • Buyer's Rep: Ryan Shaw
  • Seller's Rep: Matt Yelken- Marcus & Millichap

Joseph Suarez acquired the property from the seller, Cory Reiter. The transaction was facilitated by Ryan Shaw, representing the buyer, and Matt Yelken of Marcus & Millichap, representing the seller. The buyer expressed interest in acquiring more off-market properties similar to this one, encouraging potential sellers to reach out with opportunities through [email protected].

Players

Ryan Shaw
22 deals$145.7M volume
BROKER

Matt Y
Marcus & Millichap
2 deals$3.3M volume(305) 450-8780
BROKER

Details

SOLD
IMAGE: Joseph Suarez & Ryan Shaw DATE: 05/28/2024 ADDRESS: 1186 Northwest 103rd Street MARKET: Miami ASSET TYPE: Mixed-use BUYER: Joseph Suarez (@Joeytheattorney) SELLER: Cory Reiter BUYER & SELLER’S REP: Ryan Shaw (@RtShaw29) & Matt Yelken- Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $1,150,000 BUILDING SF: 6,487 ~ PPBUILDINGSF: $177 NOTE FROM BUYER: OFF MARKET TRANSACTION. 4 unit commercial mixed use property consisting of two residential units that are each 2 bedroom, 1 bathroom. Also, two retail units consisting of a grocery store and a restaurant. @JoeyTheAttorney is aggressively looking to acquire more off market properties similar to the subject property. Contact him at [email protected] with off market opportunities.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$4,085.72
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