Rich Rosa, Francesco Rumiano, And Lizette Quimper Acquire Retail Office In Miami For $1.7M
16585 Northwest 2nd Avenue
$1,700,000
$295/SF
Building Size
5,750 SF
Asset Type
Retail
Closing
Aug 28, 2026
About this deal
AI
The property located at 16585 Northwest 2nd Avenue in Miami was sold for $1,700,000. This asset consists of a 5,750-square-foot retail, office, and medical building set on a 13,500-square-foot lot in North Miami Beach.
Summary of transation details:
- Property Type: Retail/Office
- Transaction Amount: $1,700,000
- Buyer: Rich Rosa, Francesco Rumiano & Lizette Quimper
- Seller: Peter Richman & Harvey Richman
- Brokers: Josh Rosa & Felipe Escobar - APEX Capital Realty
- Sale Date: August 28, 2026
- Price per Square Foot: $295
- Lot Size: 13,500 square feet
Felipe Escobar identified the off-market opportunity, and Josh Rosa facilitated the transaction while providing support. The new ownership plans to renovate the property for delivery in early Q1 2027, with enhancements including a redesigned façade and upgraded features for potential tenants.
Players
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Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93