Jimmy Resnick Acquires Retail Property In Kendall For $32M
11531 Southwest 88th Street, Miami, Florida 33176, United States
$32,000,000
$552/SF
Building Size
57,885 SF
Asset Type
Retail
Closing
Jul 6, 2022
AI
The property involved in this closed transaction is a retail asset located at 11531-11631 Southwest 88th Street in Kendall. Spanning across 5.9 acres, this property offers a total square footage of 57,885. The transaction took place on July 7, 2022.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $32,000,000
- Address: 11531-11631 Southwest 88th Street, Kendall
- Market: Kendall
- Acres: 5.9
Jimmy Resnick, the buyer, acquired this property from El Tablon Investments, represented by Diega Nazar Saieh & Ana Nazar Saieh. The transaction was facilitated with the assistance of Professional Bank as the lender. The price per square foot for this retail asset is $553.
Players
Kendall Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93