Time Century Holdings Acquires 225000 SF Property In Miami For $14.5 Million From Aaron Realty Corp
SOLD
$14,500,000
Florida
See Similar DealsOffice225,000 SF
SOLD
Time Century Holdings Acquires 225000 SF Property In Miami For $14.5 Million From Aaron Realty Corp
1 NE 1st St, Miami, FL, 33132
See Similar DealsOffice225,000 SF
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$64
Total Square Footage:225,000 SF
Transaction Type:Sale
The property involved in this transaction is located at 1 NE 1st St, Miami, FL, 33132. The transaction was concluded for a total price of $14,500,000.00, encompassing a total square footage of 225,000 in the Miami market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $14,500,000.00
- Address: 1 NE 1st St, Miami, FL, 33132
- Market: Miami
- Seller: Aaron Realty Corp
- Buyer: Time Century Holdings
- Seller's Representative: Gerard Yetming-Colliers International
The individuals and companies involved in the transaction include the buyer, Time Century Holdings, and the seller, Aaron Realty Corp. The seller's representative, Gerard Yetming from Colliers International, facilitated the sale process.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$773,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$51,515.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,737.40
Annual Debt Service$824,848.77
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