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140 Northeast 1st Avenue

Moishe Mana Acquires Retail Property In Miami From Margaret Wang For $2.75M
SOLDRetail

Moishe Mana Acquires Retail Property In Miami From Margaret Wang For $2.75M

140 Northeast 1st Avenue

$2,750,000

$269/SF

Building Size

10,211 SF

Asset Type

Retail

Closing

Feb 6, 2024

AI

A retail property located at 140 Northeast 1st Avenue in Miami has been sold in a recent transaction. The property spans 10,211 square feet and was sold for a price of $2,750,000, resulting in a price per square foot of $269. The buyer in this transaction was Moishe Mana, while the seller was Margaret Wang.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,750,000
  • Address: 140 Northeast 1st Avenue, Miami
  • Market: Miami

The deal was facilitated by the brokers Jonathan De LaRosa and Ryan Shaw, who represented the buyer and seller, respectively. They are affiliated with Marcus & Millichap.

Players

Jonathan De La Rosa

Marcus & Millichap

Broker

$659M

vol

145 deals

Broker

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

5.77%

Cash-on-Cash

-1.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93