Jacob Katz Acquires Office Property For $1.1M In North Miami Beach
SOLD
$1,100,000
Florida
See Similar DealsOffice2,284 SF
Sold 10/30/2022
SOLD
Jacob Katz Acquires Office Property For $1.1M In North Miami Beach
16350 Northeast 12th Avenue
See Similar DealsOffice2,284 SF
Sold 10/30/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$481
Total Square Footage:2,284 SF
Transaction Type:Sale
A 2,284 square foot office located at 16350 NE 12th Ave in North Miami Beach has been sold for $1,100,000. The property was sold in a transaction that closed on October 31, 2022. The office is situated in a market known for its commercial real estate opportunities.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,100,000
- Square Footage: 2,284
- Price per Square Foot: $482
- Address: 16350 NE 12th Ave
- Market: North Miami Beach
- Buyer: Jacob Katz
- Seller: Dennis Terry
- Brokers: Adam H. Klein & Elon Gerberg - ROI Group - SVNCP
Represented by Adam H. Klein and Elon Gerberg from ROI Group - SVNCP, the buyer, Jacob Katz, successfully acquired the office from Dennis Terry. The deal closed on October 31, 2022, with a sale price of $1,100,000. The office is 2,284 square feet in size, translating to a price per square foot of $482.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73
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