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RE/MAX 360 Real Estate & Coral Pine Real Estate Acquire Office Property In South Miami For $5.25M

Property Image
SOLD
$5,250,000
Barbara Tria
Billy Planes
Agustin Duarte

Florida

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Office14,083 SF
Sold 09/30/2022
the dealplayerscompscontact
Property Image
SOLD

RE/MAX 360 Real Estate & Coral Pine Real Estate Acquire Office Property In South Miami For $5.25M

7910 Red Rd, South Miami, FL 33143, USA

See Similar Deals
Office14,083 SF
Sold 09/30/2022
Barbara Tria
Billy Planes
Agustin Duarte
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$372
Total Square Footage:14,083 SF
Transaction Type:Sale

An office property located at 7910 Red Rd in South Miami has been sold for $5,250,000. This property spans 14,083 square feet, resulting in a price per square foot of $373. The transaction took place on September 30, 2022. The property is situated in the South Miami market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $5,250,000
  • Square Footage: 14,083
  • Price per Square Foot: $373
  • Address: 7910 Red Rd
  • Market: South Miami

The sale of this office property was facilitated by brokers Agustin Duarte CCIM and Billy Planes CCIM from RE/MAX 360 Real Estate, along with Barbara Tria from Coral Pine Real Estate, LLC.

Players

Agustin Duarte
Re/Max
Agustin Duarte
25 deals$89.7M volume
BROKER
Billy Planes
Re/Max
Billy Planes
3 deals$9.7M volume
BROKER
Barbara Tria
Barbara Tria
1 deal$5.3M volume
BROKER

Details

SOLD
IMAGE: Barbara Tria, Billy Planes & Agustin Duarte DATE: 09/30/2022 ADDRESS: 7910 Red Rd MARKET: South Miami ASSET TYPE: Office BROKERS: Agustin Duarte CCIM (@MagicCityCommercial) & Billy Planes CCIM (@CoralGablesCommercial) - RE/MAX 360 Real Estate (@Remax360RealEstate); Barbara Tria - Coral Pine Real Estate, LLC (@BCoralPine) SALE PRICE: $5,250,000 SF: 14,083 ~ PPSF: $373

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$280,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,652.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,887.68
Annual Debt Service$298,652.14