Francisco Espinosa Acquires Office In Miami From George Dancea For $9.2M
SOLD
$9,200,000
Florida
See Similar DealsOffice32,282 SF
Sold 05/24/2024
SOLD
Francisco Espinosa Acquires Office In Miami From George Dancea For $9.2M
9480 South Dixie Highway
See Similar DealsOffice32,282 SF
Sold 05/24/2024
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$285
Total Square Footage:32,282 SF
Transaction Type:Sale
The office located at 9480 South Dixie Highway in Miami was sold for $9,200,000. Spanning 32,282 square feet, the property was acquired by Francisco Espinosa of The Bec Group Services, Inc from seller George Dancea.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,200,000
- Address: 9480 South Dixie Highway
- Market: Miami
- Square Footage: 32,282
- Seller: George Dancea
- Buyer: Francisco Espinosa - The Bec Group Services, Inc
The deal was facilitated by seller's representatives, Deme Mekras from MSP Group and Cary Cohen from Blanca Commercial Real Estate. The transaction was a collaboration between Deme Mekras and Cary Cohen, with thanks extended to MSP Group's repeat client, Mr. George Dancea, for their involvement. Additionally, the transaction involved Karen Garcia of Casa Bella Realty in the process.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$490,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,685.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,612.69
Annual Debt Service$523,352.32
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