Frontier Cos Acquires Retail Property On Kendall Drive For $17.8M
12495 Southwest 88th Street, Miami, Florida 33176, United States
$17,800,000
$359/SF
Building Size
49,456 SF
Asset Type
Retail
Closing
May 12, 2022
AI
A retail property located at 12495 SW 88th Street in Kendall Drive has been sold for a total of $17,800,000. The property spans across 4.15 acres and offers a total of 49,456 square feet of space. The sale price per square foot is calculated to be $360.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $17,800,000
- Address: 12495 SW 88th Street
- Market: Kendall Drive
- Asset Type: Retail
- Acres: 4.15
- Square Feet: 49,456
- Price per Square Foot: $360
The buyer of the property is Eric Gordon, representing Frontier Cos, while the seller is Severn Realty Partners, represented by Allen Brill. The lender involved in the transaction is City National Bank.
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
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93