Universal Concrete Acquires Retail Property In Medley For $11.75M
SOLD
$11,750,000
Florida
See Similar DealsRetail50,142 SF
Sold 03/31/2022
SOLD
Universal Concrete Acquires Retail Property In Medley For $11.75M
10505 NW 112th Ave, Miami, Florida 33178, United States
See Similar DealsRetail50,142 SF
Sold 03/31/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$234
Total Square Footage:50,142 SF
Transaction Type:Sale
Universal Concrete has acquired a retail property located at 10505 NW 112th Ave in Medley. The transaction, facilitated by brokers Frank Trelles and Jason Gonzalez of State Street Realty, involved a sale price of $11,750,000. The property spans 50,142 square feet, resulting in a price per square foot of $234.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $11,750,000
- Date: 03/31/2022
- Address: 10505 NW 112th Ave
- Market: Medley
The buyer, Universal Concrete, successfully purchased the retail property from seller Shadi Shomar. The involvement of brokers Frank Trelles and Jason Gonzalez from State Street Realty ensured a smooth transaction process.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$626,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,745.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,700.99
Annual Debt Service$668,411.93
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