Florida Royalty Investments Group Acquires Mixed-Use Property In North Miami Beach For $9.3M
SOLD
$9,300,000
+ 1
Florida
See Similar DealsMixed-use20,000 SF
Sold 02/28/2022
SOLD
Florida Royalty Investments Group Acquires Mixed-Use Property In North Miami Beach For $9.3M
16051 West Dixie Highway
See Similar DealsMixed-use20,000 SF
Sold 02/28/2022
+ 1
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$465
Total Square Footage:20,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$496,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,040.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$44,086.74
Annual Debt Service$529,040.94
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