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16690 SW 88th St Miami, FL ...

Sandra Ferrera Acquires Walgreens Retail Property In Miami For $6.7M
SOLDRetail

Sandra Ferrera Acquires Walgreens Retail Property In Miami For $6.7M

16690 SW 88th St Miami, FL 33196, USA

$6,705,263

$475/SF

Building Size

14,117 SF

Asset Type

Retail

Closing

Jun 6, 2023

AI

The retail property located at 16690 Southwest 88th Street in Miami has been sold in a recent transaction. The property spans across 14,117 square feet and was sold for a price of $6,705,263, resulting in a price per square foot of $475. The seller in this transaction is Rosalind Brewer, representing Walgreens, while the buyer is Sandra Ferrera.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $6,705,263
  • Address: 16690 Southwest 88th Street, Miami
  • Market: Miami

Eduardo "Eddie" Toledo and Jonathan De LaRosa, representing Marcus & Millichap, acted as the brokers for this deal. The other brokers involved in this transaction were Jeffrey Cicurel and Alex Sharrin, representing JLL.

Players

Jonathan De La Rosa

Marcus & Millichap

Broker

$659M

vol

145 deals

Broker
Rosalind Brewer

Rosalind Brewer

Walgreens

Seller

$74.2M

vol

5 deals

Seller

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

2.37%

Cash-on-Cash

-0.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93