Spiegel Associates Acquires Property In Miami For $34.4 Million From Pan Am Equities
SOLD
$34,400,000
Florida
See Similar DealsOther
Sold 08/14/2023
SOLD
Spiegel Associates Acquires Property In Miami For $34.4 Million From Pan Am Equities
7201 7275 Ne 4th Ave
See Similar DealsOther
Sold 08/14/2023
Summary
FLORIDA
Asset Type:Other
Transaction Type:Sale
The property asset involved in this transaction is located at 7201 7275 Ne 4th Ave in Miami. This deal encompasses an asset classified as "Other" and was sold for a total of $34,400,000.00.
Summary of transation details:
- Property Type: Other
- Transaction Amount: $34,400,000.00
- Buyer: Spiegel Associates
- Seller: Pan Am Equities, Inc.
- Brokers: Tony Arellano from DWNTWN Realty Advisors
This transaction features key individuals including Tony Arellano, who acted as the broker representing the buyer, Spiegel Associates, in this deal while Pan Am Equities, Inc. was represented by their broker in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,834,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$122,215.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$163,073.55
Annual Debt Service$1,956,882.60
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