Florida Royalty Investments Group Acquires Mixed-Use Property In North Miami Beach For $9.3M
16051 West Dixie Highway
$9,300,000
$465/SF
Building Size
20,000 SF
Asset Type
Mixed-use
Closing
Feb 28, 2022
About this deal
AI
The mixed-use property located at 16051 W. Dixie Highway in North Miami Beach has been sold for a total price of $9,300,000. Spanning over 20,000 square feet, the property was sold at a price of $465 per square foot. The transaction took place on February 28, 2022.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $9,300,000
- Address: 16051 W. Dixie Highway
- Market: North Miami Beach
The buyer of this property was Ivan Herrera, representing Florida Royalty Investments Group. On the other side of the deal, Alberto Lensi, from Addi Properties, served as the seller. The transaction was facilitated by brokers Adam J. Tiktin and Greg Matus from Franklin Street.
On the Map
$9,300,000
$465/SF
Mixed-use
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Players
North Miami Beach 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
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93