FM Capital Provides $9.7M Loan For Retail Property In Miami
3470 North Miami Avenue, Miami, FL, USA
$9,700,000
$388/SF
Building Size
25,000 SF
Asset Type
Retail
Closing
Dec 6, 2020
AI
3470 North Miami Avenue in Miami has recently undergone a closed property transaction. The retail property, which was handled by Noam Temchin of FM Capital, secured a loan of $9,700,000 from FM Capital. The loan terms have been finalized and the transaction was successfully closed just 16 days after the initial application.
Summary of Transaction Details
- Property Type: Retail
- Loan Amount: $9,700,000
- Address: 3470 North Miami Avenue, Miami
- Market: Miami
Noam Temchin of FM Capital served as the broker representative for this transaction. The loan was secured efficiently and swiftly, with the entire process from application to closing taking only 16 days.
Players
Miami 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
1.64%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93