Miguel Hernandez Acquires Retail Property In Miami Beach From Silvia Betancourt For $5.46M
1435 Washington Ave
$5,460,000
$853/SF
Building Size
6,394 SF
Asset Type
Retail
Closing
May 7, 2015
About this deal
AI
The property asset involved in this transaction is a retail space located at 1435 Washington Ave in the Miami Beach market. The total square footage of the asset is 6,394, and it was sold for a price of $5,460,000.00.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,460,000.00
- Address: 1435 Washington Ave
- Market: Miami Beach
- Asset Size: 6,394 SF
- Buyer: Miguel Hernandez
- Seller: Silvia Betancourt
- Brokers: Arthur Porosoff, Ronnie Issenburg, Gabriel Britti (Marcus & Millichap)
The transaction saw Miguel Hernandez as the buyer and Silvia Betancourt as the seller, with the deal facilitated by brokers Arthur Porosoff, Ronnie Issenburg, and Gabriel Britti from Marcus & Millichap. This collaboration contributed to the successful completion of the transaction.
Players
Miami Beach 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
2.91%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93