MG3 Realty Acquires Retail Property In Miami For $7.4M
SOLD
$7,400,000
+ 1
Florida
See Similar DealsRetail10,401 SF
Sold 05/10/2021
SOLD
MG3 Realty Acquires Retail Property In Miami For $7.4M
100 Northwest 12th Avenue, Miami, FL 33125
See Similar DealsRetail10,401 SF
Sold 05/10/2021
+ 1
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$711
Total Square Footage:10,401 SF
Transaction Type:Sale
A retail property located at 100 NW 12th Avenue in Miami has been sold for a price of $7,400,000. The transaction took place on May 10, 2021. The property spans a total area of 10,401 square feet, with a price per square foot of $711. The property sits on a 1.61-acre lot, with a price per acre of $4,596,273.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,400,000
The buyer of the property was MG3 Realty, while the seller was Eastern Buellton Industrial & Global Miami St Little Havana. The transaction was facilitated by brokers Scott Sandelin, Alex D'Alba, Glen D. Kunofsky, and Josh Kanter.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$394,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,290.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,079.78
Annual Debt Service$420,957.30
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