Michael Spetko Acquires Retail Property On Westward Drive In Miami Springs For $935,500
141 Westward Drive
$935,500
$241/SF
Building Size
3,882 SF
Asset Type
Retail
Closing
Jan 18, 2024
AI
The retail property located at 141 Westward Drive in Miami Springs has been sold. The property spans 3,882 square feet and was sold for a price of $935,500, resulting in a price per square foot of $241. The sale took place on January 18, 2024, and the transaction involved the buyer, Michael Spetko, and the seller, John Jarmon.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $935,500
- Address: 141 Westward Drive, Miami Springs
- Square Footage: 3,882 sqft
- Price per Square Foot: $241
- Buyer: Michael Spetko
- Seller: John Jarmon
- Brokers: Jonathan De LaRosa & Hugo Cardona - Marcus & Millichap
The transaction was facilitated by brokers Jonathan De LaRosa and Hugo Cardona of Marcus & Millichap. They represented the buyer and the seller in the deal.
Players
Miami Springs 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
16.96%
Cash-on-Cash
-4.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93