Joseph Suarez Acquires Mixed-Use Property In Miami For $1.15M
1186 Northwest 103rd Street
$1,150,000
Building Size
—
Asset Type
Mixed-use
Closing
May 28, 2024
AI
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
Miami 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
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93