North Park Ventures Florida Acquires Mixed-Use Property In Miami For $9.6M
SOLD
$9,600,000
+ 1
Florida
See Similar DealsMixed-use23,871 SF
Sold 05/24/2022
SOLD
North Park Ventures Florida Acquires Mixed-Use Property In Miami For $9.6M
1603 Southwest 8th Street, Miami, Florida 33135, United States
See Similar DealsMixed-use23,871 SF
Sold 05/24/2022
+ 1
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$402
Total Square Footage:23,871 SF
Transaction Type:Sale
The mixed-use property located at 1603 SW 8th St in Miami has been sold in a closed transaction. The transaction took place on May 24, 2022.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $9,600,000
- Address: 1603 SW 8th St
- Market: Miami
The buyer of the property is North Park Ventures Florida, while the seller is Babba Joshua Yesharim. The deal was facilitated by brokers Jose Izquierdo and Eva Garzon from The Grand Lion Real Estate Group, along with Carleigh Thomas.
The property was listed at an asking price of $9,990,000 and was ultimately sold for $9,600,000. The total square footage of the property is 23,871, resulting in a price per square foot of $402.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$511,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,106.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,508.90
Annual Debt Service$546,106.77
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