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700 Southwest 17th Avenue, ...

Chris Clementi Acquires Mixed-Use Property In Miami For $2.15M
SOLDMixed-use

Chris Clementi Acquires Mixed-Use Property In Miami For $2.15M

700 Southwest 17th Avenue, Miami, Florida 33145, United States

$2,150,500

$205/SF

Building Size

10,448 SF

Asset Type

Mixed-use

Closing

Jan 24, 2022

AI

The mixed-use property located at 700 SW 17th Ave in Miami has been sold in a closed transaction. The buyer, Chris Clementi, acquired the property from seller Anthony Ortega. The sale was facilitated by brokers Jonathan De La Rosa and Eduardo Toledo from Marcus & Millichap. The transaction took place on December 23, 2021. The property spans a total area of 10,448 square feet, and the sale price amounted to $2,150,500, resulting in a price per square foot of $206.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,150,500
  • Address: 700 SW 17th Ave, Miami
  • Market: Miami

Eduardo Toledo and Jonathan De La Rosa from Marcus & Millichap represented both parties involved in the deal. They played key roles in facilitating the successful transaction of the mixed-use property.

Players

Jonathan De La Rosa

Marcus & Millichap

Broker

$659M

vol

145 deals

Broker

Chris Clementi

Buyer

$21.7M

vol

4 deals

Buyer

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

7.38%

Cash-on-Cash

-2.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93