XBTO Group Acquires Office In Miami Edgewater From Two Roads Development
SOLD
$5,350,000
Florida
See Similar DealsOffice5,500 SF
Sold 04/08/2020
SOLD
XBTO Group Acquires Office In Miami Edgewater From Two Roads Development
2955 NE 7th Ave, Edgewater, Miami, FL, USA
See Similar DealsOffice5,500 SF
Sold 04/08/2020
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$972
Total Square Footage:5,500 SF
Transaction Type:Sale
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
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$285,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,361.73
Annual Debt Service$304,340.75
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