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10705 West Flagler Street

Tomas Pequeno Acquires Retail Property In Miami For $2.48M
SOLDRetail

Tomas Pequeno Acquires Retail Property In Miami For $2.48M

10705 West Flagler Street

$2,481,562

$773/SF

Building Size

3,207 SF

Asset Type

Retail

Closing

Nov 14, 2023

AI

The retail property located at 10705 West Flagler Street in Miami has been sold in a transaction. The property spans 3,207 square feet and was sold for a price of $2,481,562, which was the same as the asking price. The property has a capitalization rate of 5.25%.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,481,562
  • Address: 10705 West Flagler Street
  • Market: Miami

The buyer of the property is Tomas Pequeno, while Ana C. and Juan Aguiar are the sellers. Jonathan De LaRosa from Marcus & Millichap represented the buyer, and Kevin Yaryan from SRS Real Estate Partners represented the sellers in this deal.

Players

Jonathan De La Rosa

Marcus & Millichap

Broker

$659M

vol

145 deals

Broker

Tomas Pequeno

Buyer

$38.5M

vol

4 deals

Buyer

Miami Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.39%

Cash-on-Cash

-1.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93