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RK Centers Acquires Retail Property In Miami For $20.4M

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SOLD
$20,400,000

Florida

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Retail45,675 SF
Sold 09/27/2020
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Property Image
SOLD

RK Centers Acquires Retail Property In Miami For $20.4M

10760 NW 17th St, Miami, FL 33172, USA

See Similar Deals
Retail45,675 SF
Sold 09/27/2020
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$446
Total Square Footage:45,675 SF
Transaction Type:Sale

The retail property located at 10760 NW 17th Street in Miami was sold on September 27, 2020. The property spans 45,675 square feet and was sold for a total price of $20,400,000, resulting in a price per square foot of $447. The buyer in this transaction was RK Centers, represented by Andrew Zidar. The seller of the property was Shops at 107th LLC. The deal was facilitated by Roberto Susi and Jose Sasson Lerner of Axiom Capital Advisors.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $20,400,000
  • Address: 10760 NW 17th Street
  • Market: Miami
  • Square Footage: 45,675
  • Price per Square Foot: $447
  • Buyer: RK Centers – Andrew Zidar
  • Seller: Shops at 107th LLC
  • Brokers: Roberto Susi & Jose Sasson Lerner – Axiom Capital Advisors

Roberto Susi and Jose Sasson Lerner of Axiom Capital Advisors played a crucial role in representing both the buyer, RK Centers, and the seller, Shops at 107th LLC, in this retail property transaction. Their expertise and experience in the Miami market contributed to the successful completion of the deal.

Players

Roberto Susi
69 deals$870.7M volume
BROKER

RK Centers
BROKERAGE

Andrew Zidar
RK Centers
6 deals$150.6M volume
BUYER

Details

SOLD
IMAGE: DATE: 09/27/2020⁠ ADDRESS: 10760 NW 17th Street⁠ MARKET: Miami⁠ ASSET TYPE: Retail⁠ PRICE: $20,400,000⁠ SF: 45,675 / PPSF: $447⁠ BUYER: RK Centers – Andrew Zidar⁠ SELLER: Shops at 107th LLC⁠ BROKERS: Roberto Susi & Jose Sasson Lerner – Axiom Capital Advisors⁠

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,087,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$72,476.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$96,706.41
Annual Debt Service$1,160,476.89