Yale Properties Development Acquires Property In North Miami Beach For $1.46M With Rep Joseph Byrnes
17100 NE 19th Ave, Miami, FL, 33162
$1,460,000
$335/SF
Building Size
4,357 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The property asset is an office building located at 17100 NE 19th Ave, Miami, FL, 33162, within the North Miami Beach market. The asset was sold for $1,460,000 and encompasses 4,357 square feet. The building is situated on a .34-acre lot and has been fully renovated to meet the latest building codes.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,460,000
- Address: 17100 NE 19th Ave, Miami, FL, 33162
- Market: North Miami Beach
- Seller's Representative: Joseph Byrnes (Savills), Jonathan Thiel
- Buyer: Yale Properties Development
- Seller: 17100 Property Holdings, LLC
- Closing Date: March 27
- Lot Size: 0.34 acres
Joseph Byrnes and Jonathan Thiel represented the seller in this transaction. The new owner, Yale Properties Development, plans to occupy the building. Thiel remarked on the sale, indicating that it highlights the favorable conditions for selling property in South Florida.
Players
North Miami Beach Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.87%
Cash-on-Cash
-3.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93