Yale Properties Development Acquires Property In North Miami Beach For $1.46M With Rep Joseph Byrnes
SOLD
$1,460,000
Florida
See Similar DealsOffice4,357 SF
SOLD
Yale Properties Development Acquires Property In North Miami Beach For $1.46M With Rep Joseph Byrnes
17100 NE 19th Ave, Miami, FL, 33162
See Similar DealsOffice4,357 SF
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$335
Total Square Footage:4,357 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$77,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,187.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,921.14
Annual Debt Service$83,053.74
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