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Jimmy Saada Of Mulberry Miami Investments Acquires Retail Space In Miami Beach For $4.55M

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SOLD
$4,550,000

Florida

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Retail9,266 SF
Sold 11/05/2025
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Property Image
SOLD

Jimmy Saada Of Mulberry Miami Investments Acquires Retail Space In Miami Beach For $4.55M

1323 Washington Avenue

See Similar Deals
Retail9,266 SF
Sold 11/05/2025
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$491
Total Square Footage:9,266 SF
Transaction Type:Sale

The property involved in this transaction is a retail asset located at 1323 Washington Avenue in Miami Beach. The sale price of the property was $4,550,000, and it encompasses a total square footage of 9,266, translating to a price per square foot of approximately $491.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $4,550,000
  • Property Address: 1323 Washington Avenue
  • Market: Miami Beach
  • Buyer: Jimmy Saada - Mulberry Miami Investments
  • Buyer's Representative: Greg Corbin & Felix Ades - Northgate Real Estate Group
  • Seller's Representative: Jason Welt - Trustee Realty Inc
  • Lender: Hirshmark Capital – Bert R Dweck

This transaction features key individuals such as the buyer, Jimmy Saada, representing Mulberry Miami Investments, alongside his representatives, Greg Corbin and Felix Ades from Northgate Real Estate Group, who facilitated the transaction. Jason Welt from Trustee Realty Inc served as the seller's representative in this deal, while financing was provided by Bert R Dweck from Hirshmark Capital.

Players

Greg Corbin
83 deals$1.1B volume(212) 419-8101
BROKER

Felix Ades
Northgate Real Estate Group
29 deals$206.5M volume(212) 359-1787
BROKER

Jason Welt
1 deal$4.6M volume(954) 803-0790
BROKER

Northgate Real Estate Group
BROKERAGE

Details

SOLD
IMAGE: Jason Welt, Greg Corbin & Felix Ades DATE: 11/05/2025 ADDRESS: 1323 Washington Avenue MARKET: Miami Beach ASSET TYPE: Retail BUYER: Jimmy Saada - Mulberry Miami Investments BUYER'S REP: Greg Corbin & Felix Ades (@DJFelixAdes) - Northgate Real Estate Group (@NorthGateREG) SELLER'S REP: Jason Welt - Trustee Realty Inc LENDER: Hirshmark Capital – Bert R Dweck SALE PRICE: $4,550,000 SF: 9,266 ~ PPSF: $491

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

$242,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$16,165.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,569.32
Annual Debt Service$258,831.86