Walter Raynes Acquires Mixed-Use Property In Miami For $1.7M
3465 Southwest 8th Street, Miami, FL, USA
$1,700,000
$208/SF
Building Size
8,138 SF
Asset Type
Mixed-use
Closing
Nov 1, 2020
About this deal
AI
A mixed-use retail and office property located at 3465-3471 Southwest 8th Street in Miami has been sold for $1,700,000. The transaction took place on November 2, 2020.
Summary of transaction details:
- Property Type: Mixed Use - Retail / Office
- Transaction Amount: $1,700,000
- Address: 3465-3471 Southwest 8th Street
- Market: Miami
- Buyer: Walter Raynes
- Seller: LaOdicea, LLC
- Brokers: Jonathan De La Rosa & Eduardo Toledo
- Size (SF): 8,138
- Price per Square Foot (PPSF): $208
The buyers, Walter Raynes, acquired the property from the sellers, LaOdicea, LLC. Jonathan De La Rosa and Eduardo Toledo represented both parties as the brokers in the deal.
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
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93