Park Cole Group Lp Acquires Miami Office Building For $7.5M
951 Northeast 167th Street, North Miami Beach, Florida 33162, United States
$7,500,000
$234/SF
Building Size
32,045 SF
Asset Type
Office
Closing
Mar 22, 2022
About this deal
AI
The office building located at 951 NE 167th St in Miami, FL has been sold in a recent transaction. The property spans a total area of 32,045 square feet and was sold for a price of $7,500,000, resulting in a price per square foot of $234.
Summary of transaction details
- Property Type: Office Building
- Transaction Amount: $7,500,000
- Address: 951 NE 167th St, Miami, FL
- Market: Miami, FL
The buyer of this office building is Park Cole Group Lp. They acquired the property from the sellers, Kevin Faith, Roland Faith, and Roy Faith.
Players
North Miami Beach 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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93