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Core Investment Management Acquires Retail Property In Miami For $44.8M

Property Image
SOLD
$44,850,000

Florida

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Retail205,853 SF
Sold 10/06/2022
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Property Image
SOLD

Core Investment Management Acquires Retail Property In Miami For $44.8M

12095 Southwest 152nd Street, Miami, Florida 33157, United States

See Similar Deals
Retail205,853 SF
Sold 10/06/2022
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$217
Total Square Footage:205,853 SF
Transaction Type:Sale

A retail property located at 12095 SW 152nd Street in Miami has been sold in a recent transaction. The property, with a total square footage of 205,853, was purchased by Core Investment Management from the Courtelis Company. The deal was facilitated by brokers Danny Finkle, Eric Williams, and Kim Flores from JLL Capital Markets. The sale price for the property was $44,850,000, resulting in a price per square foot of $218.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $44,850,000
  • Square Footage: 205,853
  • Address: 12095 SW 152nd Street, Miami
  • Market: Miami

Danny Finkle, Eric Williams, and Kim Flores from JLL Capital Markets played a key role in facilitating this transaction. With their expertise, they successfully represented both the buyer, Core Investment Management, and the seller, Courtelis Company. This deal showcases the importance of skilled brokers in completing successful real estate transactions.

Players

Danny Finkle
57 deals$3.9B volume
BROKER

Eric Williams
Newmark
52 deals$2.8B volume
BROKER

Kim Flores
JLL
35 deals$3.2B volume
BROKER

BUYER

Details

SOLD
IMAGE: Danny Finkle & Eric Williams DATE: 10/06/2022 ADDRESS: 12095 SW 152nd Street MARKET: Miami ASSET TYPE: Retail BUYER: Core Investment Management SELLER: Courtelis Company BROKERS: Danny Finkle, Eric Williams & Kim Flores - JLL Capital Markets (@JLL) SALE PRICE: $44,850,000 SF: 205,853 ~ PPSF: $218

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

$2,392,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$159,342.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$212,611.88
Annual Debt Service$2,551,342.58