Marina Kessler & Gustavo Lumer Acquire Retail Property In Miami For $15.42M

The recently finished retail property located at 15400 Southwest 127th Avenue in Miami has been sold for $15.42 million in a transaction that took place on January 26, 2024. The property spans across 5.3 acres and offers approximately 45,000 square feet of space. The sale price equates to a price per square foot of $343.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $15,420,000
• Acres: 5.3
• Square Footage: 45,000
• Address: 15400 Southwest 127th Avenue, Miami

The buyers in this deal were Marina Kessler and Gustavo Lumer, representing Lumer Real Estate. On the other side, Casey Cummings, from Ram Realty Advisors, acted as the seller. The lender involved in the transaction was Ocean Bank.

Additional information regarding the sale includes a $3.54 million mortgage provided by Ocean Bank to the buyer. Furthermore, the property has signed a 15-year net lease with LA Fitness, generating an annual net operating income of $925,000 and resulting in a 6% capitalization rate.