David Merino Acquires Mixed-Use Property In Miami For $4.7M
725 Northeast 24th Street
$4,700,900
$1,566,966/SF
Building Size
3 SF
Asset Type
Mixed-use
Closing
Aug 11, 2022
About this deal
AI
The mixed-use property located at 725 NE 24th St in Miami has been sold for a price of $4,700,900. Covering an area of 3,812 square feet, the property was acquired by David Merino. The sale transaction took place on 11/08/2022 and involved the seller, The Melo Group, and the buyer's representative, Steven Kupchan from Compass Florida, as well as the seller's representative, John Reza Parsiani from Parsiani Real Estate.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,700,900
- Address: 725 NE 24th St, Miami
- Buyer: David Merino
- Seller: The Melo Group
- Buyer's Rep: Steven Kupchan - Compass Florida
- Seller's Rep: John Reza Parsiani - Parsiani Real Estate
Steven Kupchan from Compass Florida represented David Merino as the buyer's representative in this transaction. On the other hand, John Reza Parsiani from Parsiani Real Estate acted as the seller's representative, assisting The Melo Group in the sale.
On the Map
$4,700,900
$1,566,966/SF
Mixed-use
View full map
Players
Miami Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit David Merino to view all their deals.
Browse Miami mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.37%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93