@ElectricFeelEnt. & @EFVentures Acquire Mixed-Use Property In Midtown Miami For $5.55M
235 NE 29th St, Miami, FL, USA
$5,550,000
$459/SF
Building Size
12,075 SF
Asset Type
Mixed-use
Closing
Oct 21, 2021
About this deal
AI
A mixed-use property located at 235 NE 29 St. in Midtown Miami was recently sold for a sale price of $5,550,000. The property spans 12,075 square feet, resulting in a price per square foot of $460. The transaction took place on October 21, 2021. The property was initially listed for $5,650,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,550,000
- Address: 235 NE 29 St.
- Market: Midtown Miami
The buyer of the property was ElectricFeelEnt and EFVentures, as represented by their respective entities. The seller's representatives in this transaction were Tony Arellano and Devlin Marinoff from DWNTWN Realty Advisors.
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
2.86%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93