KEI Properties Acquires Retail Asset In Miami Lakes From Core IPF For $46M
SOLD
$46,000,000
Florida
See Similar DealsRetail176,241 SF
Sold 08/07/2025
SOLD
KEI Properties Acquires Retail Asset In Miami Lakes From Core IPF For $46M
15905 Northwest 57th Avenue/Red Road
See Similar DealsRetail176,241 SF
Sold 08/07/2025
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$261
Total Square Footage:176,241 SF
Transaction Type:Sale
The retail asset located at 15905-16367 Northwest 57th Avenue in the Miami Lakes market has been sold. The property spans 176,241 square feet and has a sale price of $46,000,000, which equates to approximately $261 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $46,000,000
- Buyer: KEI Properties
- Seller: Core IPF
- Brokers: Douglas Mandel & Zach Levine - Marcus & Millichap
Douglas Mandel and Zach Levine represented the transaction for the brokerage firm Marcus & Millichap. Their role was crucial in facilitating this deal between the buyer, KEI Properties, and the seller, Core IPF.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,453,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$163,428.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$218,063.47
Annual Debt Service$2,616,761.62
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