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Simcha Connection Inc Acquires Office Property In North Bay Village For $2.2M

Property Image
SOLD
$2,200,000

Florida

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Office5,300 SF
Sold 02/01/2021
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Property Image
SOLD

Simcha Connection Inc Acquires Office Property In North Bay Village For $2.2M

1580 John F Kennedy Causeway, North Bay Village, FL, USA

See Similar Deals
Office5,300 SF
Sold 02/01/2021
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$415
Total Square Footage:5,300 SF
Transaction Type:Sale

The office located at 1580 Kennedy Causeway in North Bay Village has been sold in a recent transaction. The property, measuring 5,300 square feet, was sold for a price of $2,200,000. The office is situated in a desirable location in North Bay Village, offering convenient access to amenities and transportation options.

Summary of transaction details

  • Property Type: Office
  • Date of Sale: 02/01/2021
  • Address: 1580 Kennedy Causeway, North Bay Village
  • Buyer: Simcha Connection Inc
  • Seller: Entelquia Group
  • Listing Price: $2,500,000
  • Sale Price: $2,200,000
  • Square Footage: 5,300
  • Price per Square Foot: $415

The deal was facilitated by the brokers involved in the transaction. Frank Trelles from State Street Realty and Victor Torres from Pure Investments represented the buyer and seller, respectively. The involvement of these experienced professionals contributed to the successful completion of the deal.

Players

Frank Trelles
38 deals$90.3M volume(786) 302-1223
BROKER

Victor Torres
PURE Investments
1 deal$2.2M volume
BROKER

Details

SOLD
IMAGE: Victor Torres Pure & Frank Trelles DATE: 02/01/2021 ADDRESS: 1580 Kennedy Causeway MARKET: North Bay Village ASSET TYPE: Office BUYER: Simcha Connection Inc SELLER: Entelquia Group BROKERS: Frank Trelles (@frankietrelles) - State Street Realty, Victor Torres - Pure Investments ASKING PRICE: $2,500,000 SALE PRICE: $2,200,000 SF: 5,300 ~ PPSF: $415

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,816.15
Cash-on-Cash Return-1.27%
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