Acquires Mixed-use Property In Miami From Avra Jain & Joe Del Vecchio For $2M
385 Northeast 79th Street
$2,000,000
$331/SF
Building Size
6,042 SF
Asset Type
Mixed-use
Closing
Aug 27, 2025
About this deal
AI
A mixed-use property located at 385 Northeast 79th Street in the Miami market was sold for $2,000,000. The asset encompasses a total square footage of 6,042, resulting in a price per square foot of $331.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,000,000
- Address: 385 Northeast 79th Street
- Market: Miami
- Square Footage: 6,042
- Price Per Square Foot: $331
- Buyer:
- Seller: Avra Jain & Joe Del Vecchio
- Broker: George Belesis - DWNTWN Realty Advisors
The buyer of the property, , acquired the asset from sellers Avra Jain and Joe Del Vecchio. The transaction was facilitated by broker George Belesis, representing DWNTWN Realty Advisors in the deal.
On the Map
$2,000,000
$331/SF
Mixed-use
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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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93