JK Miami Corp. Sells Mixed-Use Property In Wynwood, Miami For $3.8M
SOLD
$3,800,000
Florida
See Similar DealsMixed-use8,000 SF
Sold 10/08/2021
SOLD
JK Miami Corp. Sells Mixed-Use Property In Wynwood, Miami For $3.8M
523-529 Northwest 28th Street, Wynwood, Miami, FL, USA
See Similar DealsMixed-use8,000 SF
Sold 10/08/2021
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$475
Total Square Footage:8,000 SF
Transaction Type:Sale
Located in the vibrant Wynwood neighborhood of Miami, the mixed-use property at 523-529 NW 28 Street recently changed hands in a closed transaction. The property, spanning 8,000 square feet, boasts a prime location in the Wynwood market. The sale price for this transaction was $3,800,000, resulting in a price per square foot of $475.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $3,800,000
- Address: 523-529 NW 28 Street, Wynwood, Miami
- Square Footage: 8,000
The seller of the property was JK Miami Corp., represented by Jae Wong. The transaction was facilitated by brokers Jordan Gimelstein and David Spitz from the Koniver Stern Group. Both brokers played a crucial role in overseeing the successful sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$202,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,500.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,013.94
Annual Debt Service$216,167.26
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