Marcus & Millichap Facilitates $7.7M Sale Of North Miami Beach Retail Property
SOLD
$7,700,000
Florida
See Similar DealsRetail4,676 SF
Sold 01/07/2022
SOLD
Marcus & Millichap Facilitates $7.7M Sale Of North Miami Beach Retail Property
1190 Northeast 163rd Street, North Miami Beach, FL 33162
See Similar DealsRetail4,676 SF
Sold 01/07/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$1,646
Total Square Footage:4,676 SF
Transaction Type:Sale
The retail property located at 1190 NE 163rd St in North Miami Beach has been sold for a price of $7,700,000. The transaction took place on January 7, 2022. The property spans a total area of 4,676 square feet, resulting in a price per square foot of $1,647. The sale was facilitated by brokers Scott Sandelin and Alex D'Alba from Marcus & Millichap.
Summary of Transaction Details
- Property Type: Retail
- Sale Price: $7,700,000
- Address: 1190 NE 163rd St, North Miami Beach
- Market: North Miami Beach
- Square Footage: 4,676
- Price per Square Foot: $1,647
Scott Sandelin and Alex D'Alba from Marcus & Millichap played key roles in representing the parties involved in the transaction. They acted as the brokers for the buyer and seller, facilitating the successful sale of the retail property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$410,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,356.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,501.93
Annual Debt Service$438,023.14
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