David Merino Acquires Mixed-Use Asset In Miami For $4.88M
SOLD
$4,880,000
Florida
See Similar DealsMixed-use2,615 SF
Sold 09/26/2022
SOLD
David Merino Acquires Mixed-Use Asset In Miami For $4.88M
300 Biscayne Blvd
See Similar DealsMixed-use2,615 SF
Sold 09/26/2022
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$1,866
Total Square Footage:2,615 SF
Transaction Type:Sale
The mixed-use property located at 300 Biscayne Blvd in Miami has been sold for a total of $4,880,000. The property spans 2,615 square feet, resulting in a price per square foot of $1,866. The sale transaction took place on September 26, 2022.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,880,000
- Address: 300 Biscayne Blvd, Miami
- Market: Miami
David Merino has acquired the property from the seller, Waldorf Astoria - PMG Development. The brokerage services were provided by Steven Kupchan from Compass Florida.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$260,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,337.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,133.69
Annual Debt Service$277,604.28
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