Harbour Outdoor Acquires Mixed-Use Property On NE 38th St. In Miami For $6.5M
SOLD
$6,500,000
+ 1
Florida
See Similar DealsMixed-use10,250 SF
Sold 08/20/2021
SOLD
Harbour Outdoor Acquires Mixed-Use Property On NE 38th St. In Miami For $6.5M
170 Northeast 38th Street
See Similar DealsMixed-use10,250 SF
Sold 08/20/2021
+ 1
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$634
Total Square Footage:10,250 SF
Transaction Type:Sale
Harbour Outdoor has acquired a mixed-use property located at 170 NE 38th St. in Miami, FL. The transaction, completed on August 20, 2021, was facilitated by Jake Zacuto of DWNTN Realty Advisors, who represented the buyer. The seller, Arnaud Sitbon, was represented by Tony Arellano and Devlin Marinoff, also from DWNTN Realty Advisors.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $6,500,000
- Address: 170 NE 38th St.
- Market: Miami, FL
- Square Footage: 10,250
- Price Per Square Foot: $634
The deal was financed by City National Bank, with Ray Rowshankhah overseeing the lending process. The involvement of City National Bank provided the necessary funds for Harbour Outdoor to complete the transaction.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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