Luis Garcia Acquires Office Building At 1390 Northwest 14th Avenue From Peter Felde For $5.4M
SOLD
$5,400,000
Florida
See Similar DealsOffice15,563 SF
Sold 06/23/2025
SOLD
Luis Garcia Acquires Office Building At 1390 Northwest 14th Avenue From Peter Felde For $5.4M
1390 Northwest 14th Avenue
See Similar DealsOffice15,563 SF
Sold 06/23/2025
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$347
Total Square Footage:15,563 SF
Transaction Type:Sale
1390 Northwest 14th Avenue is a Class B office building located in the Health District of Miami. The property encompasses 17,322 square feet and sold for $5,400,000, equating to a price per square foot of $311.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,400,000
- Address: 1390 Northwest 14th Avenue
- Market: Miami
- Sales Representative: Virgilio Fernandez - Colliers
- Buyer: Luis Garcia
- Seller: Peter Felde
Virgilio Fernandez of Colliers represented the seller, Peter Felde, in this cash transaction. Colliers is positioned to assist in further development opportunities, helping clients unlock maximum property value.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$288,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,185.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,598.75
Annual Debt Service$307,185.06
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