North Park Ventures Florida Acquires Mixed-Use Property In Miami For $9.6M
1603 Southwest 8th Street, Miami, Florida 33135, United States
$9,600,000
$402/SF
Building Size
23,871 SF
Asset Type
Mixed-use
Closing
May 23, 2022
AI
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.
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
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93