Speed Plaza Acquires Retail Property In Miami For $5.9M
1300 Brickell Bay Drive, Miami, FL 33131
$5,900,000
$1,170/SF
Building Size
5,040 SF
Asset Type
Retail
Closing
Sep 20, 2021
AI
The retail property located at 1300 Brickell Bay Drive in Miami was recently sold for $5,900,000. The property spans across 5,040 square feet, resulting in a price per square foot of $1,171. The sale took place on September 20, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,900,000
- Address: 1300 Brickell Bay Drive, Miami
- Market: Miami
The buyer of the property was Speed Plaza, represented by Carlos Tovar and Luis Meir. The seller, Lizmar International, was represented by Saad Hamdan and Philippe Diener of Brown Harris Stevens. Luis Gautier, from Fortune International Realty, served as the buyer's representative in this transaction.
Players
Miami 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
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93