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1186 Northwest 103rd Street

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

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

Ryan Shaw

Marcus & Millichap

Broker

$145.7M

vol

22 deals

Broker

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