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15700 Southwest 88th Street...

Gator Investments Acquires Retail Property For $6.05M In Miami
SOLDRetail

Gator Investments Acquires Retail Property For $6.05M In Miami

15700 Southwest 88th Street, Miami, Florida 33196, United States

$6,050,000

$605,000/SF

Building Size

10 SF

Asset Type

Retail

Closing

Jan 2, 2023

AI

A retail property located at 15700 S.W. 88th St in Miami has been sold in a closed transaction. The property spans an area of 1.02 acres and was sold for a total price of $6,050,000. The sale took place on February 1, 2023. The property offers 10,666 square feet of space, resulting in a price per square foot of $567.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $6,050,000
  • Address: 15700 S.W. 88th St
  • Market: Miami
  • Area: 1.02 acres

The buyer for this transaction is Gator Investments, while FFT V Limited Partnership served as the seller. Representing the buyer in the deal were Joseph Prio, Barry M. Wolfe, and Alan Lipsky, all from Marcus & Millichap.

Players

Barry Wolfe

Marcus & Millichap

Broker

$118.5M

vol

16 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

2.62%

Cash-on-Cash

-0.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93