Jacob Katz Acquires Office Property For $1.1M In North Miami Beach
16350 Northeast 12th Avenue
$1,100,000
$481/SF
Building Size
2,284 SF
Asset Type
Office
Closing
Oct 30, 2022
AI
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.
Players
North Miami Beach Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93