FirstBank Of Florida Provides $6.4M Construction Loan For Retail Property In Hialeah
2899 West 4th Avenue, Hialeah, FL 33010, USA
$6,400,000
$376/SF
Building Size
17,000 SF
Asset Type
Retail
Closing
Sep 10, 2021
About this deal
AI
A construction loan has been secured for a retail property located at 2899 W. 4th Ave in Hialeah. The property spans 17,000 square feet and is being developed by Achikam Yogev.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $6,400,000
- Lender: FirstBank of Florida
- Broker: Ian Coutts - ICC Associates Inc.
- Developer: Achikam Yogev
The lender for this construction loan is FirstBank of Florida. Ian Coutts from ICC Associates Inc. served as the broker for the transaction. Achikam Yogev is the developer overseeing the project.
On the Map
$6,400,000
$376/SF
Retail
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Players
Hialeah Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93