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
About this deal
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
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