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
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