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9315 Northeast 4th Avenue Road

Howard Roark Buys Miami Office From Roland Milosevic For $2.4M
SOLDOffice

Howard Roark Buys Miami Office From Roland Milosevic For $2.4M

9315 Northeast 4th Avenue Road & 9325 Northeast 4th Avenue Road

$2,400,000

$218/SF

Building Size

11,000 SF

Asset Type

Office

Closing

May 31, 2024

AI

The office property located at 9315-9325 Park Drive in Miami was sold in a transaction involving buyer Howard Roark and seller Roland Milosevic. The deal was facilitated by buyer's representative Alfredo Riascos from Gridline Properties and seller's representatives Barrett Wolf from Wolf Commercial Real Estate and Carol Vergel from Compass. The property spans 5,500 square feet with a sale price of $2,400,000 at a rate of $436 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $2,400,000
  • Address: 9315-9325 Park Drive
  • Market: Miami
  • Asset Type: Office
  • Buyer: Howard Roark
  • Seller: Roland Milosevic
  • Buyer's Rep: Alfredo Riascos - Gridline Properties
  • Seller's Rep: Barrett Wolf - Wolf Commercial Real Estate; Carol Vergel - Compass
  • SF: 5,500
  • PPSF: $436

The transaction marked a successful closing for the office property, showcasing the collaborative efforts of the involved parties to finalize the deal. Alfredo Riascos from Gridline Properties represented the buyer, Howard Roark, ensuring a smooth acquisition process. On the seller's side, Barrett Wolf from Wolf Commercial Real Estate, along with Carol Vergel from Compass, worked diligently to oversee the sale of the property, culminating in a mutually beneficial agreement for both parties involved.

Players

Alfredo Riascos

Gridline Properties

Broker

$331.2M

vol

49 deals

Broker

Miami Shores 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

6.61%

Cash-on-Cash

-1.89%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93