XBTO Group Acquires Office In Miami Edgewater From Two Roads Development
2955 NE 7th Ave, Edgewater, Miami, FL, USA
$5,350,000
$972/SF
Building Size
5,500 SF
Asset Type
Office
Closing
Apr 8, 2020
AI
The office property located at 2955 NE 7th Ave in Miami Edgewater was recently sold in a closed transaction. The sale took place on 04/08/2021.
Summary of transation details
- Property Type: Office
- Transaction Amount: $5,350,000
- Address: 2955 NE 7th Ave
- Market: Miami Edgewater
The buyer in this transaction was XBTO Group, while the seller was Two Roads Development. The deal was facilitated by Dorota Baginska from Miami Dream Properties Inc, who represented the buyer. Arden Karson acted as the representative for Two Roads Development.
The office property was listed with an asking price of $6,000,000. The total square footage of the property is 5,500, resulting in a price per square foot of $973.
Players
Miami 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
2.97%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93