MMG Equity Partners Acquires Homestead Shopping Center For $5.6M
$5,600,000
SOLD
$5,600,000
Florida
See Similar DealsRetail43,781 SF
Sold 01/15/2020
$5,600,000
SOLD
MMG Equity Partners Acquires Homestead Shopping Center For $5.6M
10969 Southwest 40th Street, Miami, FL, USA
See Similar DealsRetail43,781 SF
Sold 01/15/2020
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$127
Total Square Footage:43,781 SF
Transaction Type:Sale
The property involved in this transaction is a shopping center located at 10969 Southwest 40th Street in the Homestead market. The sale was completed at a transaction amount of $5,600,000, with a total square footage of 43,781. The price per square foot for this asset is $128.
Summary of transaction details:
- Property Type: Shopping center
- Transaction Amount: $5,600,000
- Address: 10969 Southwest 40th Street
- Market: Homestead
- Square Footage: 43,781
- Price Per Square Foot: $128
- Buyer: MMG Equity Partners
- Buyer Representatives: Marcos Puente, Gabriel Navarro
- Seller: JLS Const. Corporation
The buyer in this transaction, MMG Equity Partners, was represented by Marcos Puente and Gabriel Navarro, who facilitated the acquisition of the shopping center from seller JLS Const. Corporation. This transaction highlights the involvement of key individuals in the commercial real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$298,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,895.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,546.86
Annual Debt Service$318,562.28
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