Arthur Cova Purchases Retail Asset In Miami From Chris Sanz For $9 Million
SOLD
$9,000,000
Florida
See Similar DealsRetail17,471 SF
Sold
SOLD
Arthur Cova Purchases Retail Asset In Miami From Chris Sanz For $9 Million
13698 Southwest 8th Street
See Similar DealsRetail17,471 SF
Sold
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$515
Total Square Footage:17471 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 13698 Southwest 8th Street in the Miami market. The sale price for this asset was $9,000,000, and it encompasses a total area of 17,471 square feet, resulting in a price per square foot of $515.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,000,000
- Address: 13698 Southwest 8th Street
- Market: Miami
- Square Footage: 17,471
- Price Per Square Foot: $515
- Buyer: Arthur Cova
- Seller: Chris Sanz
- Seller's Representative: Gabriel Britti, Ronnie Issenberg & Ricardo Esteves - Marcus & Millichap
Key individuals involved in the transaction include the buyer, Arthur Cova, and the seller, Chris Sanz. The seller was represented by Gabriel Britti, Ronnie Issenberg, and Ricardo Esteves from Marcus & Millichap, who facilitated the deal.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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