Ted Lucas Of L.T. Enterprises Purchases Office Building In Miami From Federico Fanta For $1.5M
SOLD
$1,500,000
Florida
See Similar DealsOffice3,808 SF
Sold 08/21/2024
SOLD
Ted Lucas Of L.T. Enterprises Purchases Office Building In Miami From Federico Fanta For $1.5M
14 Northeast 1st Avenue
See Similar DealsOffice3,808 SF
Sold 08/21/2024
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$393
Total Square Footage:3,808 SF
Transaction Type:Sale
The property asset involved in the transaction is located at 14 Northeast 1st Avenue in Miami. It was sold for $1,500,000, encompassing a total area of 3,808 square feet, which translates to a price per square foot of $393.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,500,000
- Sale Price: $1,500,000
- Square Footage: 3,808 SF
- Price per Square Foot: $393
- Buyer: Ted Lucas - L.T. Enterprises
- Seller: Federico Fanta - Techbind Corp
- Seller's Representative: Eduardo Citcioglu - Fortune International Realty
This transaction highlights the involvement of Ted Lucas representing L.T. Enterprises as the buyer and Federico Fanta representing Techbind Corp as the seller. Eduardo Citcioglu from Fortune International Realty acted as the seller's representative, facilitating the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$79,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18
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