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2955 NE 7th Ave, Edgewater,...

XBTO Group Acquires Office In Miami Edgewater From Two Roads Development
SOLDOffice

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

Dorota Baginska

Broker

$16.2M

vol

2 deals

Broker
XG
XBTO GroupBuyer

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