Bank Of America Private Bank Provides $14.55M Acquisition Loan For Retail Property In Miami Gardens
4705 Northwest 183rd Street
$14,550,000
$172/SF
Building Size
84,543 SF
Asset Type
Retail
Closing
Nov 22, 2021
About this deal
AI
The retail property located at 4705-4795 NW 183rd St in Miami Gardens has been involved in a recent transaction. The property spans an area of 84,543 square feet.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $14,550,000
- Address: 4705-4795 NW 183rd St, Miami Gardens
- Market: Miami Gardens
The lender involved in the transaction is Bank of America Private Bank. They provided an acquisition loan for the property.
The loan terms for this transaction include an all-in interest rate of 1.76% (floating), a loan-to-value (LTV) ratio of 75%, partial interest-only payments, a 25-year amortization period, and a 10-year term.
Robert Bhat from Marcus & Millichap represented the buyer in this deal.
Players
Miami Gardens 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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93