Lombardi Properties & Bayshore Investment Partners Sell Retail Property In Miami For $4.6M
169 Northwest 23rd Street, Miami, FL 33127
$4,605,000
$1,163/SF
Building Size
3,959 SF
Asset Type
Retail
Closing
Sep 22, 2020
About this deal
AI
A retail property located at 169 NW 23rd St in Miami has been sold in a recent transaction. The property spans 3,959 square feet and was sold for a total price of $4,605,000, resulting in a price per square foot of $1,163.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,605,000
- Address: 169 NW 23rd St
- Market: Miami
The seller of the property was Lombardi Properties & Bayshore Investment Partners. The transaction was facilitated by brokers Drew A. Kristol and Kirk D. Olson, representing Marcus & Millichap.
Players
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
3.44%
Cash-on-Cash
-0.98%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93