Marcus & Millichap Brokers $6.65M Sale Of Chase Bank Property In Miami
11399 Southwest 40th Street
$6,650,000
$1,463/SF
Building Size
4,545 SF
Asset Type
Retail
Closing
Sep 9, 2025
About this deal
AI
The property asset involved in the transaction is a retail space located at 11399 Southwest 40th Street in Miami. The sale price of the asset is $6,650,000, and it encompasses 4,545 square feet. The asset sits on a 0.52-acre parcel and is leased to JPMorgan Chase on an absolute net ground lease through 2031, positioned at a high-traffic intersection.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,650,000
- Square Footage: 4,545 SF
- Price Per Square Foot: $1,463
- Address: 11399 Southwest 40th Street
- Market: Miami
- Acres: 0.52
Alex Zylberglait and Michael Crocchiola from Marcus & Millichap represented the transaction, overseeing the sale of the Chase Bank property. Their role was crucial in facilitating the deal and ensuring the property was successfully transferred to the new owner.
On the Map
$6,650,000
$1,463/SF
Retail
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Players
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
2.39%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93