Moishe Mana Acquires Retail Property In Miami From Margaret Wang For $2.75M
SOLD
$2,750,000
Florida
See Similar DealsRetail10,211 SF
Sold 02/06/2024
SOLD
Moishe Mana Acquires Retail Property In Miami From Margaret Wang For $2.75M
140 Northeast 1st Avenue
See Similar DealsRetail10,211 SF
Sold 02/06/2024
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$269
Total Square Footage:10,211 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$146,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,770.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,036.40
Annual Debt Service$156,436.84
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